Group Insurance

Group insurance covers at least ten people (usually employees of the same firm) under a single insurance policy.

Group insurance offers coverage for employees and typically includes life insurance, TPD, and income protection/group salary continuation. The advantages of this form of coverage include lower rates and a decreased or eliminated need for underwriting.

Group insurance allows for flexibility in selecting various types of cover along with formula based or fixed sums insured. Policies are often owned by the company with premiums deductible to the company and with benefits payable to the policy owner (company) which then can provide these payments directly to the employees; providing them with automatic coverage that benefits the employee and their family.