Group Insurance

<<< Back to Index 

Group insurance

Group insurance

Group insurance is an insurance that covers a defined group of people, for example the members of a society or professional association, or the employees of a particular employer. Group coverage can help reduce the problem of adverse selection by creating a pool of people eligible to purchase insurance who belong to the group for reasons other than the wish to buy insurance, which might be because they are a worse than average risk. Grouping individuals together allows insurance companies to give lower rates to companies, "Providing large volume of business to insurance companies gives us greater bargaining power for clients, resulting to cheaper group rates."

Group insurance may offer life insurance, health insurance, and/or some other types of personal insurance.

Group Insurance Advantage

Group Health Insurance

Health insurance significantly superior to individual covers. Group Health is now a standard in many sectors. It is an important consideration in attracting and retaining employees.

Group Personal Accident

Cover costs of accident related injury or disability. Personal Accident is particularly relevant when you have a large workforce on the move. It covers permanent total disability, permanent partial disability, temporary total disability and medical expenses in an accident.

Group Term

Pays the family a large amount if an employee dies for any reason. Group Term ensures that the family is financially stable even if the main wage earner in the family dies.

Statutory Covers

Workmen Compensation, Group Gratuity, Group Superannuation, Group EDLI. These are often contractual or statutory requirements or address risks that are mandatory to take on. Manage your regulatory requirements efficiently.

Group Travel

One insurance for all travelers in the company. Group policies are easier to manage than individual insurances, paperwork and underwriting is simpler and renewal more effective.