BC FORUM News - From The Advocate, Summer, 2020

Benefit options for BC FORUM members

By David Porteous

In February we were happy to report BC FORUM’s “NEW” Platinum Benefit Plan offering retiree’s coverage to age 85, plus higher limits, a new paramedic coverage, and a plan that does “not” have out of Province/ Country Travel Medical.

Since March with the Covid-19 pandemic among us the world is changing fast including many of our needs. Our underwriting office has been inundated with questions regarding changing from one of the BC FORUM benefit plans to another. Also, retirees are asking if they can move from an outside retiree benefit plan to a BC FORUM retiree plan.

The good news is “YES.” At a time when most insurance programs are not allowing changes because of the Covid-19 pandemic WE Consulting & Benefits has managed to negotiate the ability for BC FORUM members to move and still cover pre-existing conditions. (limitations may apply)

Other questions members are asking, will all the Value Plans be increasing the age to 85 years old, do they need out of Province/Country Travel Medical if they do not intend to Travel, others asking about one of BC FORUM’s original plans that included a “Final Expense Benefit” based on actual funeral expenses of up to $5,000. per insured person if death occurs from any cause after 24 months of continuous coverage.

First “YES” all Value Plans will be increasing the age to 85 years by late summer. Secondly, if the pandemic has changed “your” priorities like inter Provincial or out of Country Travel, before you make that decision be aware if your intention is only to travel to another Province you still might need out of Province/Country Travel Medical. Finally, the older we become and in part because of Covid-19 many are wondering if their estate has enough cash so they, their partners or family members under the plan would not be burdened with funeral costs. BC FORUM’s original Conversion Plans can help with a “Final Expense Benefit.”

We review all BC FORUM’s and other retiree programs across Canada annually. BC FORUM’s retiree plans still offer the most coverage options, the best policy wordings and are the most reasonably priced in Canada.

David is a Licensed Insurance (Nominee), an Elder Planning Counselor, and a charter member of the Canadian Initiative for Elder Planning Studies.