Issue link: http://clhia.uberflip.com/i/578791
4 income protection; 237,000 people and their 314,000 dependants with extended health care coverage; and 132,000 people and their 175,000 dependants with reimbursement of dental care expenses. Through these insured plans and similar coverages provided by uninsured employer arrangements, some 640,000 Nova Scotia residents have supplementary health benefit coverage (after eliminating duplicate coverage) and about 250,000 people have disability income protection. Premium Income Life and health insurance providers receive funds from two main sources: premiums and deposits paid by policyholders and earnings on investments. The portion of premium payments not used to pay benefits or expenses in the current year becomes available for investment in the nation's economy until needed to pay future benefits. In product pricing, the anticipated investment earnings are taken into account, thereby reducing the cost of life insurance, health insurance and annuities to policyholders. During the year, Nova Scotia residents paid total premiums and premium equivalents of $2.5 billion for life and health insurance, as well as annuity products. Of the total, $855 million, or 34%, were for annuity products such as employer sponsored private pension plans, RRSPs, RRIFs, DPSPs and payout annuities. This included $298 million of premiums for individual annuities and $557 million of premiums for group annuities. Nova Scotia residents also paid $535 million, or 21% of the total, on new and existing life insurance policies, purchased primarily to provide future financial security for their families. Premiums for individual life insurance policies totalled $329 million and premiums for group life insurance policies amounted to $206 million.