Group Insurance
Group Insurance in Brampton
Members of a professional association or a society or employees of an organization can opt for Group Insurance to offer life-long coverage, health cover, and/or other types of personal insurance. More than a way of retaining members/employees, it is a way of ensuring normal running of the organization. A small deduction can be made from the pay cheques or the whole premium can be paid by the organization head. In both ways, the head has to partially pay the premium and renew them annually.Group Insurance in Brampton & Mississauga, is a single contract purchased by the head, which covers all the members of the organization.
It is provided as a complete package to the member or employee of the organization. The cost of group coverage is far less than purchasing individual insurance. break-content Being one of the most experienced providers of Group Insurance in Brampton & Mississauga, we can help you find a suitable and economic Group Insurance for your organization. Group term coverage remains in force until your employment is terminated or until the specific term of coverage ends. You may also be given the option of converting your group coverage to an individual policy while leaving your employer.
What Can A Group Insurance Cover?
This insurance can cover the following:
- Accidental Death and Dismemberment
- Critical Illness Insurance
- Dental Insurance
- Disability Insurance
- Health Insurance
- Employee Assistance Program
- Extended Health Care
- Group Life Insurance
- Long Term Disability Insurance
- Registered Retirement Savings Plan
- Short Term Disability Insurance
- Voluntary Retirement Savings Plan
- Health Spending Account
- Family Assistance Program
- Manager Assistance Program
- Assure Drug Card
- Best Doctors
- Business Assistance Service (BAS)
- Business Overhead Expense Insurance
How does Group Insurance benefit an Organization?
Advantages for the Employees of the Organization are as follows:
- Cheaper insurance expense when compared to Individual Insurance premiums.
- They can assure the welfare of their family
- Can avail tax deduction for the premium they paid, which otherwise would be spent from after-tax income
- Previous Medical Record and Individual Medical Examination is not required.
Advantages for Employers of the Organization are as follows:
- Tax-deduction can be availed as Business Expenses, on both state and federal income taxes.
- Better Employees can be Recruited and Retained.
- Cash element can be eliminated in exchange for employee benefits.
- Having healthier workforce with access to medical facilities can lead to a better organization and better running business.
Are you looking for a Group insurance then contact Harpreet Puri – Brampton’s most trusted Insurance Advisor