Why Renewals Matter

It has been a while since the last post. We were busy working on the renewal for our most popular Group Benefits program in Canada.

This was an exceptional year with the overall 2023 rate adjustment coming in at 0.42%.

Why does this matter? Because in a time of inflation, we were able to continue to deliver on our commitment of providing high quality coverage at stable rates.

So you might ask... this was a good year, but what is your long-term results?

Here is an overview of our average annual renewals:

• 16 year average 6.15%
• 10 year average 7.04%
• 5 year average 4.18%
• 3 year average 3.00%

To give this some context, inflation trend for Extended Health is currently 11.23% and inflation trend for dental is closer to 9%. A renewal that is close to inflation trend is considered ideal.

14 of our 16 renewals for the ClearBenefits.ca Inc Pooled Program have been at or below inflation trend for that year, and this is why Advisors and clients place and keep their business with us.

When you want the best opportunity for rate stability, our programs keep delivering year after year.