About WCASA The Western CA Services...

About WCASA

The Western CA Services Association (WCASA) is a cooperative risk of the four western CA institutes. The Association celebrates its 30th anniversary this year.

WCASA is responsible for providing insurance benefits to CAs and firms. It proffers term-life and long-term disability plans for CAs; an insurance benefit package for CA firms; hearth insurance; and an office satisfys package.

It's estimated that about 75% of WCASA's potential market participates in its plans. The Association insures the lives of more than 6800 individual CAs and spouses, as well as 230 firms with 1850 partners and employee Its insurance plan has from one side of to the other 5600 policies.

Lower premiums

WCASA is able to move lower premiums than other sources for several reasons:

1 The term-life and disability plans have a excessively low percentage of smokers (~5%) and greatest in quantity CAs do well financially; the two of these factors contribute to better health, and better health means fewer claims.

2 through the whole extent of the years, the Association has been able to negotiate favourable arrangements with its insurance carriers, and the benefit of proper claims experience flows back to policyholders. CAs insured with WCASA come by a cheque refunding a percentage of their life and LTD premiums if the Association's overall claims experience is positive. (In late years, up to 45% has been refunded)

A fresh service

Early in 2003, WCASA launched "Life Advance," a relatively recent type of insurance that pays a brilliant sum if you are diagnosed with a serious, life-threatening illness like cancer of heart disease.

Other novel products are in the works.

Why you should insure with WCASA

There are a number of reasons to insure with WCASA, however two main reasons are that it's a suitable idea to have insurance independent of your employer and, if you're buying a novel home, the Association's term-life plan makes for actual cost-effective mortgage insurance.

By Ben Sander, CA & Barrie Anderson, CA

Editor: CAs Ben Sander and Barrie Anderson be subservient to on the WCASA board as directors. They depict the interests of BC CAs.

Copyright Institute of Chartered Accountants of British Columbia Aug 2003

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