Group Benefits for
Neo Financial
Administered by Simply Benefits, Canada’s 100%-digital benefits provider, the Neo Financial group benefits plan is flexible and incredibly easy to manage.
Plan Options
The choice is yours.
Choose Neo Base or Neo Platinum to suit your needs.
Neo Base
Life Insurance
- 1x annual earnings to a maximum of $500,000
- Non-evidence maximum is $150,000
- Reduces by 50% at age 65, terminates at age 70, earlier of retirement
Accidental Death and Dismemberment
- 1x annual earnings to a maximum of $500,000
- Non-evidence maximum is $150,000
- Reduces by 50% at age 65, terminates at the earlier of retirement or age 70
Dependent Life
- Spouse – $10,000
- Child – $5,000
- Terminates at the earlier of retirement or age 70
Critical Illness
- Voluntary
Extended Health
- Nil deductible
- 80% pay-direct (mandatory generic) drugs except:
- fertility drugs covered at 50% to $2,500 per lifetime
- erectile dysfunction drugs covered at 50% to $600 per calendar year
- 100% hospital (semi-private room)
- 80% other health benefits – see employee booklet for full details of medical equipment and supplies coverage
- 80% paramedical, $500 per practitioner annual maximum
- combined maximum for psychologists, psychotherapist, and social workers
- combined maximum for dieticians and nutritionists
- Emergency travel coverage (60-day trip duration, $5 million lifetime maximum)
- 80% vision care:
- $200 every 24 months
- 80% eye exams:
- every 24 months
- 24-month survivor benefits
- Terminates at the earlier of retirement or age 75
Dental
- Nil deductible
- 80% basic
- $1,500 annual maximum
- 9-month recall
- Current fee guide
- Late applicants limited to a maximum of $250 coverage in their first 12 months
- 24-month survivor benefits
- Terminates at the earlier of retirement or age 75
Voluntary Critical Illness
- $50,000 employee
- $25,000 family members
- See more information below under ‘Resources’ section.
Neo Base Rates
Extended Health Care
Single
$14.25 semi-monthly deduction
(total cost $57.00 per month, NEO investment $28.50 per month)
Family
$33.25 semi-monthly deduction
(total cost $133.00 per month, NEO investment $66.50 per month)
Dental
Single
$6.75 semi-monthly deduction
(total cost $27.00 per month, NEO investment $13.50 per month)
Family
$18.75 semi-monthly deduction
(total cost $75.00 per month, NEO investment $37.50 per month)
Life
Variable based on income
Accidental Death and Dismemberment
Variable based on income
Neo Platinum
Life Insurance
- 1x annual earnings to a maximum of $500,000
- Non-evidence maximum is $150,000
- Reduces by 50% at age 65, terminates at earlier of retirement or age 70
Accidental Death and Dismemberment
- 1x annual earnings to a maximum of $500,000
- Non-evidence maximum is $150,000
- Reduces by 50% at age 65, terminates at the earlier of retirement or age 70
Dependent Life
- Spouse – $10,000
- Child – $5,000
- Terminates at the earlier of retirement or age 70
Critical Illness
- Voluntary
Extended Health
- Nil deductible
- 80% pay-direct (mandatory generic) drugs except:
- fertility drugs covered at 50% to $2,500 per lifetime
- erectile dysfunction drugs covered at 50% to $600 per calendar year
- 100% hospital (semi-private room)
- 100% other health benefits – see employee booklet for full details of medical equipment and supplies coverage
- 100% paramedical, $500 per practitioner annual maximum
- combined maximum for psychologists, psychotherapist and social workers
- combined maximum for dieticians and nutritionists
- Emergency travel coverage (60-day trip duration, $5 million lifetime maximum)
- 100% vision care:
- $400 every 24 months adults, 12 months children
- 100% eye exams:
- every 24 months
- 24-month survivor benefits
- Terminates at age the earlier of retirement or age 75
Dental
- Nil deductible
- 100% basic 50% major
- $2,000 annual maximum
- 6-month recall
- Current fee guide
- Late applicants are limited to a maximum of $250 coverage in their first 12 months
- 24-month survivor benefits
- Terminates at the earlier of retirement or age 75
Voluntary Critical Illness
- $50,000 employee
- $25,000 family members
- See more information below under ‘Resources’ section.
Neo Platinum Rates
Extended Health Care
Single
$16.48 semi-monthly deduction
(total cost $61.45 per month, NEO investment $28.50 per month)
Family
$38.44 semi-monthly deduction
(total cost $143.37 per month, NEO investment $66.50 per month)
Dental
Single
$12.56 semi-monthly deduction
(total cost $38.61 per month, NEO investment $13.50 per month)
Family
$34.88 semi-monthly deduction
(total cost $107.25 per month, NEO investment $37.50 per month)
Life
Variable based on income
Accidental Death and Dismemberment
Variable based on income
How to Enroll
Enrolling in your Neo benefits plan can be completed online in minutes. To enroll, find your welcome email from Simply Benefits and click the Sign Up button.
Watch the video below to learn more about the enrolment process.