Group Insurance
Group Insurance is a type of insurance plan that provide coverage to a group a people under the same plan. a group insurance policy provide the same coverage to all the member irrespective to their gender, age, economic status of occupation. it also provide coverage to the dependents of the covered member such as spouse, kids, parents etc.
Features of Group Insurance
Here are some of key Benefit-
- Group insurance provides standard coverage to a group of people at comprtitive premium rates.
- Irrespective of number of people group insurance coverage to all member under same plan.
- the admin of group gets the master policy in the name of group.
- a member of the group is covered as long as he/she is a part of group.
- an employer that provide group health insurance to the employee gets tax benefit as well.
- Group insurance come in the form of several other plan such as group health insurance, group term life insurance , group travel insurance , group travel insurance.
Types of Business Insurance
Employee Benefit
Groups covered under Group Insurance
Formal Group
this group to the working professionals of an organisation or company. in formal group the employer purchase a group insurance policy for employer that provide them coverage in case of financial emergency.
Informal Group
an informal group refer to the group such as people in a society or a culture association. the policy is purchase by the society president or administer to purchase the group insurance plan and everyone get covered under same plan.
Why Group Insurance needed?
- Wide coverage - most group medical insurance plan provide wide coverage and eleborate benefit of policyholder.
- option to get customize - the health insurance policies for group and corporate give the option to customize coverage.
- Afforadable Premium- compare to indivisual health insurance to group insurance in terms of premium show group health plan are afforadable. this is because the premium that one has to pay in respect of coverage that one get is always higher in group health plan.
Eligiblity
- the minimum age required to get insured under group insurance is 18 years.
- the maximum age varies from 60 to 80 years.
- All must be full time active member of the group.
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Group Insurance is a type of insurance plan that provide coverage to a group a people under the same plan. a group insurance policy provide the same coverage to all the member irrespective to their gender, age, economic status of occupation. it also provide coverage to the dependents of the covered member such as spouse, kids, parents etc.
Here are some of key Benefit-
- group insurance provides standard coverage to a group of people at comprtitive premium rates.
- Irrespective of number of people group insurance coverage to all member under same plan.
- the admin of group gets the master policy in the name of group.
- a member of the group is covered as long as he/she is a part of group.
- an employer that provide group health insurance to the employee gets tax benefit as well.
- Group insurance come in the form of several other plan such as group health insurance, group term life insurance , group travel insurance , group travel insurance.
- the minimum age required to get insured under group insurance is 18 years.
- the maximum age varies from 60 to 80 years.
- All must be full time active member of the group.
Client's Review
I loved how simple it was to get an online quote for my travel insurance. The entire process was user-friendly, and the pricing was transparent. Paying and buying the insurance online was seamless. Fantastic service!
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