Group insurance is a single insurance policy that covers a group of people. It is usually offered by companies, schools, or organizations to their employees or members.
Group health insurance is the most common type. It provides medical cover to all members under one plan. Some employers also give group life insurance or accident insurance.
The big benefit is that group insurance is cheaper than individual plans. Sometimes the employer pays the full premium. It’s easy to manage, has fewer checks, and covers even people with health problems.
However, group insurance ends when you leave the company or group. So, it’s smart to also have personal insurance that stays with you always.
Group insurance is a helpful extra layer of security for employees and their families.
