What Is Group Insurance?
Updated: Feb 21, 2019
So you've signed your employee contract, you're about to start a new job and you've noticed that Group Health Insurance was apart of your compensation package but you have no idea what that is. Not to worry! We'll explain.
Group Insurance, simply put, is insurance that covers a defined group of people and is usually offered by employers as a part of an employee’s compensation package. Group Insurance is usually paid for by the company but oftentimes the employee will also cover a small percentage, which is taken out of their weekly or bi-weekly pay.
Group insurance or group benefits offers can include life insurance, health and dental benefits as well as disability and critical illness insurance.
If you have group coverage through your employer, that’s great! We urge you to take advantage of it you aren’t already. If you don’t have group coverage and would like to know more, speak with your employer about your coverage options and how long before you’re eligible.