Insurance for groups is an integral part of employee benefit plans. It is since it ensures employees’ financial protection and their families and gives them access to various healthcare options.
Being an entrepreneur, do you feel unsure about providing this program to your staff? Are you tempted to tell yourself that they already have insurance from the government? This article explains why having a group plan benefits your employees and business.
Coverage Gets Provided
Insurance plans for groups are more extensive and generally offer the following protections:
- The life insurance policy for the employees, as well as dependents
- Dismemberment and accidental death (ADD) as well as critical illness insurance
- Long- and short-term disabilities
- Health care insurance (prescription drugs, paramedical care, vision care, etc.)
- Insurance for travel
- Dental care insurance
- Employee and Family Assistance Program (EFAP)
- Telemedicine
Benefits of Group Plan
Group insurance is a lot more comprehensive coverage than the government plans, meaning that the family members’ mental, physical, and financial well-being is more secure. Here are some benefits of these plans:
For Employees
- Without proof of insurance, protection in the case of disability or death
- Specialists’ coverage as well as a broad range of medical costs
- Cost-sharing arrangements with employers
- Potentially, more generous drug policy coverage in Ottawa
For The Employer
- Make sure you invest in your employees
- Keep productivity up
- To ensure the retention and enticement of employees.
- Maximize after-tax compensation
The Final Decision
In the end, it all comes to the amount of coverage. If you’re looking to provide your employees with a broader range than the rest, a group insurance policy is the most appropriate option.
It is essential to talk with specialists to design an insurance program for your group that is attractive and competitive for your workers. In Ottawa Life insurance, our experts will assist you in making the most appropriate option for your business. Call us at (613) 4541424 or send us an e-mail at info@ottawa-lifeinsurance.ca.
Recent Comments