The Edge Benefits Review

About The Edge Benefits Insurance

The Edge Benefits was founded in 1985 in Canada. As being a small business itself, The Edge Benefits prides itself in being the choice insurance provider for small businesses, with a focus on the self-employed business market. The Edge vows to protect the underdog. Though small, The Edge is one of companies that comprises The Co-Operators Financial Group, and is therefore stabilized by the financial assets provided by The Co-Operators. In the last 15 years alone, The Edge has compensated over $200 million to its policyholders. 

The Edge Benefits offers insurance coverage for health and dental, critical illness, travel insurance and life insurance. The Edge works carefully and closely with every single policyholder in an effort to understand their needs and tailor packages to meet those needs.

The Edge Benefits Key Information

How Do I Purchase a Plan with The Edge Benefits?

Policy plans are available for purchase directly on The Edge Benefits website here. 

How Can I Reach The Edge Benefits by Telephone?

To reach The Edge Benefits by phone, contact them at 1-877-902-EDGE (3343). 

How Do I File a Claim with The Edge Benefits?

To file a claim with The Edge Benefits, you’ll need to contact them directly in order to request a claim form.

The Edge Benefits Pros and Cons

As with any product or service, and depending on your individual needs, there’s always advantages and disadvantages. Let’s take a look:

Why The Edge Benefits Could Be Right for You:

• Competitive rates on insurance 
• Strong customer service team ready to assist you
• Efficient claims process

Why The Edge Benefits May Not Be Right for You:

• Claims process is not easy to navigate 
• Website is not exactly user-friendly in comparison to other insurance company sites  
• Niche market

What Does The Edge Benefits Cover?

The Edge Benefits presents a diverse range of insurance plans to safeguard your well-being and financial security. With a focus on health coverage, income protection, and life insurance, their comprehensive offerings cater to various aspects of life. Whether you seek peace of mind through health benefits, assurance for unexpected financial challenges, or long-term security for your loved ones, The Edge Benefits' plans provide the necessary protection for your journey ahead.

Health & Dental Insurance 

The health plan provides coverage for prescription drugs, out of province emergency medical travel, vision care and so forth. It also covers extended health care such as professional services/registered therapists, accidental dental, ambulance transportation, hearing aids and so forth. The dental care covers the cost of basic preventative and restorative services as well as endodontic and periodontal treatment and denture services.

Edge’s health and dental coverage is an excellent way to cater for medical expenses that may occur but are not covered by the government health plan, especially if you are self-employed.

You have the option to either choose the health only coverage or the health and dental coverage. The coverage is issued from age 18 to age 64 but it covers the insured up to age 75. You can opt for the single, couple or family plan options. The health plan provides coverage for prescription drugs, out of province emergency medical travel, vision care and so forth. The health plan also covers extended health care such as professional services/registered therapists, accidental dental, ambulance transportation, hearing aids, medical services laboratory tests, diagnostic tests and x-rays, dialysis equipment, medical items and home support services and so forth. The dental care covers the cost of basic preventative and restorative services as well as endodontic and periodontal treatment and denture services.

Critical Illness Insurance

Edge Benefits will pay the insured a tax-free lump sum amount if diagnosed with a critical illness condition covered by the policy such as aortic surgery, coma, paralysis, and so forth. Up to 23 critical illnesses are covered by this plan. To receive the benefit, the insured is expected to survive the 30 day survival period. Also, you can only receive the second event benefit if you survive 30 days after the diagnosis. The critical illness insurance plan comes in three tiers: tier 1, tier 2 and tier 3. Tier 1 offers benefits up to $25,000, tier 2 up to $50,000 and tier 3 up to $100,000. If diagnosed with any of the critical illnesses covered by the policy, you will receive a tax-free lump sum payment provided you survive the 30 days survival period. You can only receive the Second Event Benefit if you survive 30 days after the critical illness diagnosis. You are no longer eligible to reapply for a new coverage in this plan after the second event benefit has been paid. If your premiums are paid in full, your benefits will be subject to an automatic increase of 5% of the original amount after 5 years up to 25% at no extra cost. Up to 23 life-threatening illnesses are covered by this plan. The covered critical illnesses include aorta surgery, cancer, deafness, dismemberment, paralysis, severe burns, stroke, occupational HIV infection, loss of independence, Alzheimer’s disease, benign brain tumor and so forth.

Fracture Accident Benefits 

Edge Benefits will pay the insured a tax-free lump sum amount if diagnosed with a critical illness condition covered by the policy such as aortic surgery, coma, paralysis, and so forth. Up to 23 critical illnesses are covered by this plan. To receive the benefit, the insured is expected to survive the 30 days survival period. Also, you can only receive the second event benefit if you survive 30 days after the diagnosis. The critical illness insurance plan is in three tiers: tier 1, tier 2 and tier 3. Tier 1 offers benefits up to $25,000, tier 2 up to $50,000 and tier 3 up to $100,000. If diagnosed with any of the critical illnesses covered by the policy, you will receive a tax-free lump sum payment provided you survive the 30 days survival period. You can only receive the Second Event Benefit if you survive 30 days after the critical illness diagnosis. You are no longer eligible to reapply for a new coverage in this plan after the second event benefit has been paid. If your premiums are paid in full, your benefits will be subject to an automatic increase of 5% of the original amount after 5 years up to 25% at no extra cost. Up to 23 life-threatening illnesses are covered by this plan. The covered critical illnesses include aorta surgery, cancer, deafness, dismemberment, paralysis, severe burns, stroke, occupational HIV infection, loss of independence, Alzheimer’s disease, benign brain tumor and so forth.

Accidental Death & Dismemberment 

Edge’s Accidental Death and Dismemberment plan is not just affordable, but it is also flexible. This plan does not just cover an accidental death but it also covers some other specific losses such as Hemiplegia, Quadriplegia, and Paraplegia. Some other losses are also listed in the policy. Accidental Death and Dismemberment insurance offered by Edge pays the insured a whopping $300,000 in the event of the insured’s accidental death or specific losses. The lump sum paid by the coverage is tax-free and is designed in such a way as to help you maintain your lifestyle and recover your independence. Accidental Death and Dismemberment insurance protects you and your loved ones from financial hardship if you are involved in an accident. The plan provides a tax-free lump sum up to $300,000 in the event of an accidental death or accidental dismemberment. Several specific losses are covered by this plan such as Hemiplegia, Quadriplegia, and Paraplegia. For each of the losses listed in the policy, a percentage of the benefit will be paid to the insured.

Income Protection - Injury Only 

Income protection – injury plan offers a waiver of premium when disabled but benefits will still be paid. Some other benefits of this plan include the return to work assistance benefit and accidental medical reimbursement benefit. The benefit amount paid will be less than your Qualifying Insurance Monthly Earning (QIME) or the benefit amount purchased. The plan covers for both total and partial disability and is aimed at helping you to recover your independence. Benefits paid are a percentage of your income. The amount of income you make and how you make it will determine the amount of benefit you will be paid. This is determined by your Qualifying Insurance Monthly Earning (QIME) when you are disabled. For partial disability, the insured will be paid 50% of the benefit amount up to 180 days. Your premium will be waived while you are disabled but your income protection plan still continues. You can enjoy further benefits that come with this plan such as return to work assistance benefit, and accident medical reimbursement benefit.

Income Protection - Injury & Illness Coverage 

 The eligible age for this plan is between 18 and 64 (both inclusive) and the plan covers the insured up to age 70. This plan must be purchased alongside with the Loss of Income Injury coverage and the insurance amount should not exceed the Loss of Income Injury amount. You are also required to satisfy gateway questions as well as the required height and weight. The plan covers for both total and partial disability and is aimed at helping you to recover your independence. Benefits paid are a percentage of your income. The amount of income you make and how you make it will determine the amount of benefit you will be paid. This is determined by your Qualifying Insurance Monthly Earning (QIME) when you are disabled. For partial disability, the insured will be paid 50% of the benefit amount up to 180 days. Your premium will be waived while you are disabled but your income protection plan still continues. You can enjoy further benefits that come with this plan such as return to work assistance benefit, and accident medical reimbursement benefit. The eligible age for this plan is between 18 and 64 (both inclusive) and the plan covers the insured up to age 70. This plan must be purchased alongside with the Loss of Income Injury coverage and the insurance amount should not exceed the Loss of Income Injury amount. You are also required to satisfy gateway questions as well as the required height and weight.

Income Replacement Benefits 

The Income Replacement Benefits amount paid to the totally disabled insured does not exceed the maximum amount shown on the Schedule of Benefits. Furthermore, the plan includes a waiver of premium benefits. This means that the insured will not pay premiums after 30 days of total disability and when the loss of income benefits become payable. The insured must be between age 18 and 64 (both inclusive) to enroll in this plan. The plan covers the insured up to age 65. If the insured is totally disabled for 60 months due to an injury, he will be eligible for a tax-free lump sum of $300,000 under the Loss of Income Policy. The Lifestyle Protection Enhancer amount paid under this policy will not go beyond the maximum amount shown on the Schedule of Benefits. After 30 days of total disability, the insured will be eligible for a waiver of premiums. This also holds when the loss of income benefits are payable.

Guaranteed Issue Life Insurance

In tier 1 final expense, your acceptance is guaranteed because no medical exam or health question is asked before acceptance. In addition, you will receive 4 times your benefit amount if you die from an accident. The option also includes living benefits. You will also receive additional life insurance if you satisfy the qualifying questions. Final Expense is designed to cover the cost of your funeral expenses in the event of unexpected death. This relieves your loved ones of the financial burden. The plan option is divided into two parts: tier 1 and tier 2. The tier 1 final expense is available for individuals from age 18 to age 85 and cover up to age 100, while the tier 2 final expense is available to individuals from age 18 to age 69 and cover up to age 75.The benefit from this plan ranges from $5,000 to $25,000. Your acceptance to the plan is guaranteed, no medical examination or health question will be required for acceptance. If your death is caused by an accident, your beneficiaries will receive four times the benefit. No benefit will be paid if your death is due to non-accidental causes within 2 years of your policy’s effective date. This is also the case if your death is due to suicide.

Emergency Medical Travel Insurance

 You can opt for further protection in the travel plus medical emergency insurance. This coverage has annual plans only but it further includes trip cancellation, interruption, delay and baggage delay and loss benefits. The plan provides comprehensive protection when you are away from home. Edge’s travel medical emergency insurance provides the comprehensive insurance protection you need when you travel out of your province or away from home. It provides the insured with emergency assistance 24 hours a day and 7 days a week. The plan provides up to $5,000,000 in coverage for reasonable and customary medical expenses to help you treat the emergency medical condition. You can also opt for the travel plus medical emergency coverage which has further coverage options and benefits such as additional trip cancellation, delay and baggage delay, interruption and loss benefits. The travel plus medical coverage has an annual plan only.