What are Group Benefits?
Group benefits are a type of insurance coverage that protects a group of people who are:
Group coverage helps lower insurance rates because it reduces the risk we face as we create an insurance policy for a group of people together for reasons other than getting covered. It can also be a powerful incentive that employers give to keep and attract great employees.
Major Types of Group Benefits
Group Accident or Supplemental Insurance
Supplemental insurance is an extra coverage that you can get to help pay for certain services and out-of-pocket expenses that your primary insurance cannot covered in the event of a covered loss or an accident.
Group Dental/Vision Insurance
Our group dental and vision insurance is developed by experts in a way that it would attract and keep the best employees in a company or organization. Our benefit plans will keep your employees, members, and their families in perfect shape.
Group Disability Insurance
Group disability insurance offers regular income replacement payments to an insured member of the group or employee in the event of a disability resulting due to an illness or injury. There are two types of disability coverage: short-term disability (STD) and long-term disability (LTD).
Group Health Insurance
Group health insurance is offered to eligible employees (often including their direct family members) as an incentive for working at the company. It is one of the may employee benefit packages that employers offer for their employees.
Group Life Insurance
Group life insurance, otherwise known as wholesale life insurance or institutional life insurance, is a term insurance that covers a group of people, usually employees, association or union members, or pensioners. The underwriting in this insurance depends on the size, turnover, and financial capabilities of the group.
To know more about group benefits, don’t hesitate to contact us through email or call us at (407) 878-7979. You may also visit us at our office today!
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Having the proper business insurance coverage at an affordable rate can make the difference between the success and failure of your business. Allow our commercial insurance experts to help guide you to success.