GROUP BENEFITS INSURANCE
Any guesses on what group benefits insurance is going to cover when it comes to the number of people? That’s right, more than one! All bad jokes aside, group benefits insurance is important to understand when you’re looking at making use of your resources. Below we'll give you everything you need to know to make an educated decision.
group life insurance benefits
We know that every business, business owner, and employee is unique—which is exactly why your California Group Benefits program must be as well. You can depend on our staff to take the time to get to know you and your business, allowing us the opportunity to access risks and determine the most effective benefits package for yourself or your employees.
insurance and benefits group
Whether you are looking for a broad Employee Benefits package or something as distinct as California Small Business Health Insurance we are ready to make your specific needs our top priority!
Our experienced team provides custom, quality Group Benefits for hardworking employees across the state!
group insurance benefits
Offering benefits to your employees attracts a higher caliber of worker and enables your company to be more successful and more profitable. When a high-quality applicant looks for employment, two of the most important factors he or she considers are salary and benefits. At Eugene C. Yates Insurance Agency, we strive to help you retain stronger employees by arming you with an affordable and attractive employee benefits package.
Group Benefits insurance in California
Not sure if you need Group Benefits at your establishment? With our expert insurance knowledge and years of experience providing coverage for large and small businesses throughout California, we create an inclusive benefits package that allows you to enjoy the perks of working with a local, independent agency like ours.
CA Health Insurance
We offer comprehensive health coverage for companies in California.
CA Disability Insurance
We offer comprehensive disability coverage for companies in California.
Voluntary products
We offer comprehensive voluntary products coverage for companies in California.
dental
We offer comprehensive dental coverage for companies in California.
vision
We offer comprehensive vision coverage for companies in California.
What are group insurance benefits
Generally speaking, group benefits insurance is purchased by a company specifically on behalf of their employees. Since the policy is spread out amongst a group of people, the premiums are often low. The larger the group is, the lower the rates are going to be. The same protection will apply to each person in the group, and the policy is not able to be changed or made personal by anyone who has it.
Low premiums
- Since there is a group, and each member is paying monthly premiums for the policy, the actual monthly premium amount is going to be rather small. This is especially helpful for those who, in other situations, wouldn’t be able to afford an insurance policy on their own. It’s also often going to be a rather good insurance, so it’s better than the lower protection that a single employee would go for.
Premiums could apply to their loved ones
- Another perk to the insurance over a group of people is that it extends beyond the employee themselves, and often will go on to include their extended family. This is especially helpful for those that want to know that everyone in their household is protected the same way.
Employees still get a choice of how to apply their insurance
- Even though every employee has the same benefits as everyone else who is a policy holder, employees still have a choice in how they are going to apply the insurance. That is, they can still go to their own family doctors and choose their own dentists, etc. They may only have the coverage in certain categories, but those categories are still all customized to their own preferred professionals.
It can offer life and death benefits
- You can get group life insurance death benefits as well. To those who don’t have any kind of other life insurance plans in place or have the opportunity to put one in place, this is worth as much if not more than the actual protection of the pay-out. These kinds of benefits are often the most appreciated by group members, and, as such, tend to be a part of even the most basic group insurance plans that are available.
Group Insurance Benefits
These kinds of insurance are used in a lot of workplaces, even in medium sized businesses. They were put in place back in the 1920s when large amounts of soldiers needed coverage after suffering from an injury in the wars. It has grown in popularity ever since then, and it now is standard in a lot of companies where a number of employees require insurance.
Since it will serve the entire group as a whole and offers low premiums, it’s especially popular for those who otherwise wouldn’t be able to afford traditional insurance rates. It gives them access to go coverage and proper protection, but it is still controlled entirely by the company. Ask about group term life insurance benefits.
Group benefits insurance is a great way for a business to put in place an affordable protective plan for everyone. Not only will it make sure that employees get protection that makes them feel valued, it’s also going to be great for the business because it can actually offer up realistic protection for everyone at once. Everyone has the same benefits and details, and it’s all carefully contained under one policy.
What is group benefits insurance?
Group benefits insurance covers a group of people who are usually members of the same society. They can also be employees of a common employer. Group benefit insurance can be a great incentive to retain and attract new employees.
When you are looking into group benefits insurance it’s important to look at the insurance benefits group closely. Often you can see what possible discounts are available. Insurance and benefits group insurance is a necessity when you’re dealing with a large group of people.
Group life insurance benefits
An employer has the option of paying a portion, or all of an employees benefits depending on the goals or needs of the company. Group life insurance premiums are loosely based off an assessment of the companies risk. If you choose to spread the risk you will bring your rate down. Which will allow an affordable insurance coverage option for your employee’s.
Group health insurance benefits
Benefits of group health insurance, for one there is a lower cost associated with them due to a larger risk pool. Some of the benefits of group health insurance come from the number of people in the pool. When more people are involved you can expect lower rates, and more options available.
Group long term disability insurance benefits
Group long term coverage (GLTD) has a 90 day elimination period. Some companies will allow a longer elimination period. On average group long term disability benefits are limited to 50 to 60% of your base salary. In addition it is very common to have a maximum monthly benefit, no matter how much you make.