Quote
Elements of a Quote
Thank you for considering Dynamic Original Concepts (DOC) as your group benefits Broker/Consultant. In order to prepare a quotation for you, we will need to provide our insurance partners with accurate and, where possible, detailed information about your organization, the employees who are eligible for benefits and your current plan (if applicable).Our partners will prepare a quote based on your current plan design. If you do not already have a plan, DOC can offer a selection of starter plans to suit your budget. The following forms and templates will assist you in providing us with and allowing us access to the information required to prepare a group benefits plan quote. For as accurate a quotation as possible, please provide as much detail as possible.
You may complete the following forms and return by either attaching to an email addressed to benefitsquote@docbenefits.ca or faxing to 905-455-7528, if you require assistance please call 905-455-9149.
Organizational Profile
- The first three pages are the Request for Quote form. It asks you to provide:
- description of your organization including contact information;
- details regarding any employees who are currently or have recently been away due to injury or illness;
- indicate whether any employees currently suffer a condition such as epilepsy or heart disease (that you are aware of). It is to your advantage to respond as future claims can be disallowed when a known condition is not disclosed in advance.
- the percentage of each benefit to be paid by the employer (particularly with respect to disability)
- your current rates, if applicable; and a breakdown of what you would like quoted (if current plan booklet is provided, forms may be used for alternate quote if desired) .
Demographic information on covered employees.
- On the Employee Data form, please complete with as much detail as possible. Include
- gender, family status, coverage type for health and dental (family or single), dates of birth, employment start dates and job titles/descriptions.
- The information requested is confidential; names are optional (initials are often used).
This information is primarily for rating life and disability insurance. Please supply as much job description detail as possible as insurance companies tend to assess a higher risk when they are unsure of roles, responsibilities and activities. Please include academic and professional qualifications if applicable. Please feel free to use additional pages for job details, if necessary.
The following information will also be required if your organization currently has a benefit plan
Claims experience and rate history going back two to three years We will request this from your current insurance carrier if you cannot provide it. The data indicate the frequency of benefit usage, mostly for health, drug, dental, and disability claims. With this information we will assess the probable annual claims expenditures for the organization.
Please address the request letter to your current carrier quoting your policy number and return it to DOC. We will then arrange for your insurance company to send us the required information. (Please see template letter attached)
Sample of existing policies. We need to have a copy of the employee’s policy handbook. It outlines exactly what kind of coverage you currently have. This allows us to quote “apples to apples” for comparison purposes.
A copy of a recent invoice. To do an accurate comparison, we will need to know exactly how much each employee is insured for. Your invoice will list the insurable earnings for life and disability coverages. Our premium estimates will, therefore, be based on your current levels of coverage.
Please don’t hesitate to contact us if you have any questions regarding this process. Our plan is very flexible; if you would like to discuss the implications of changing your plan design, please call.
The following information will also be required if your organization currently has a benefit plan
Claims experience and rate history going back two to three years We will request this from your current insurance carrier if you cannot provide it. The data indicate the frequency of benefit usage, mostly for health, drug, dental, and disability claims. With this information we will assess the probable annual claims expenditures for the organization.
Please address the request letter to your current carrier quoting your policy number and return it to DOC. We will then arrange for your insurance company to send us the required information. (Please see template letter attached)
Sample of existing policies. We need to have a copy of the employee’s policy handbook. It outlines exactly what kind of coverage you currently have. This allows us to quote “apples to apples” for comparison purposes.
A copy of a recent invoice. To do an accurate comparison, we will need to know exactly how much each employee is insured for. Your invoice will list the insurable earnings for life and disability coverages. Our premium estimates will, therefore, be based on your current levels of coverage.
Please don’t hesitate to contact us if you have any questions regarding this process. Our plan is very flexible; if you would like to discuss the implications of changing your plan design, please call.
