Launch of Compassion Insurance - A new group insurance product to balance working and caregiving

QUEBEC CITY, April 2, 2014 /CNW Telbec/ - SSQ Financial Group, a leader in the group insurance industry, is proud to introduce compassion insurance, an innovative product that helps balance working and caring for a gravely ill loved one. This new coverage will enable both employees and employers to receive support like never before.

With SSQ Financial Group's compassion insurance, employees who feel the need to take time off work temporarily to care for a gravely ill loved one will receive compensation for lost wages. This new product also enables insureds to parcel out their periods of financial assistance, giving them greater flexibility. As such, insureds can be completely devoted to helping their loved ones without putting their own physical and financial health in jeopardy, and are able to return to work as soon as possible.

A socio-demographic analysis of support needs carried out by Jean-Pierre Brun, Professor and Chair in workplace health and safety management at Laval University, demonstrates that the need to balance work and family caregiving is increasing: "As 28% of the population is a family caregiver, it is essential to offer them support solutions. We know that although employees are present at work, over 87% of them must make telephone calls during their work hours."

This new product created by SSQ Financial Group is more than an innovative employee benefit. It meets the needs of today's society for both employers and employees. By showing empathy in supporting employees in difficult situations, the employer who offers compassion insurance helps reduce psychological illnesses.

"With compassion insurance, SSQ Financial Group stays true to its values. Until now, no insurer offered this type of product and employees felt torn between the need to take care of a loved one and the guilt of having to take time off work. Thanks to SSQ Financial Group, employees and employers will receive support like never before," said Carl Laflamme, Senior Vice-President of Group Insurance at SSQ.

About SSQ Financial Group
With a business volume over $3 billion and nearly $11 billion in assets under management, SSQ Financial Group is a leading mutual diversified financial institution in Canada.

The Group serves over one million clients and provides jobs to nearly 2,000 employees. SSQ, Life Insurance Company Inc., the Group's principal company, is recognized as a leader in the group insurance industry and as an expert in the investment and retirement sector. SSQ Financial Group is also a rising star in auto and home insurance under the SSQ General Insurance Company Inc. banner and has expanded into the individual insurance market thanks to its subsidiary, SSQ Insurance Company Inc.

For more information, please visit ssq.ca.

SOURCE: SSQ FINANCIAL GROUP

Danielle Rioux
SSQ Financial Group
418-650-3457, ext. 6819 / [email protected]