The Good, The Bad and The Truth Behind Group Insurance
Group insurance is generally used by companies or small businesses for employees. However, it need not be limited to that. Other groups such as clubs, organizations, chambers of commerce and even religious groups have been known to offer insurance coverage to members.
Benefits:
• Cheaper than individual plans
• Many employers cover part of or all insurance premiums
• No physical exams or health histories to complete
• Covers employees regardless of age or present state of health
• Lower premiums for high risk individuals
Disadvantage:
• If you leave your job, you lose coverage
• However, federal law called COBRA could allow you to continue with your insurance for a period of time
• People enrolled have no say in the type of policy
At G&G Insurance Services, we offer group insurance options to fit your employees’ needs at a cost affordable to you.
Check out our website for details on how we can help you save, or sign up to get a free quote!