Many companies offer different types of insurance for their employees. Group insurance is a great choice for insurance because it has so many great benefits that cannot be ignored or beaten.
Makes it Easy
Insurance is complicated, but having your insurance through a group makes it easy to sign up and stay enrolled. Your HR department walks you through the steps and answers any questions. Plus, depending on your company, you may have your health insurance, life insurance and other forms of insurance all through your work, so you only have to stop at one place if you have questions. They remind you when you have to re-enroll and your premium comes right out of your paycheck, so you don’t even have to think about it.
Spreads the Risk
Group insurance also spreads the risk amongst all the members. If you had a severely sick dependent and wanted to get individual insurance, you would probably have to pay much higher premiums to get insurance that someone with healthy dependents. That isn’t the case with group insurance. You don’t need a medical exam to get coverage and everyone pays the same amount, regardless of health.
Group insurance also generally has lower premiums than individual insurance because it is based on the group as a whole. In addition, depending on your employer, they may even pay a portion of your premium, reducing the amount even more.
For more information regarding the importance of group benefits in California, contact Massive Insurance, located in Pasadena.