Group insurance - providing cover for a group of people

Group insurance can be applied to any type of group e.g. members of a society or professional association, but the most common application is for employees of a business. It is a value added benefit of an employment contract to get insurance included and there are different insurance and types of cover available. Contact Premium Finance to discuss the options.

How does it work

The business can decide what insurances are included in the group insurance package but generally they would include some or all of these: life, disability, TPD, and health insurance.

By getting insurance on a wholesale basis, the coverage costs each individual worker/member less that they would pay on an individual policy. Employers can decide if they are paying all or some of the premiums, or just passing on the cheaper insurance premium rate to the employee to pay.

Benefits of group insurance

As well as showing you are a caring employer by providing group insurance there are benefits to both the business and the individuals.

The business benefits by having higher employee satisfaction and therefore potentially higher employee retention. The individuals benefit as they get potentially lower premiums, pre-existing conditions might be covered, and there could be the option of carrying on with the insurance policy even if the employee retires or leaves the business.

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ASK A QUESTION / BOOK AN APPOINTMENT

Fill out the form below and we will contact you as soon as possible. If it’s urgent, please call us.

First Name

Last Name

Contact Number

Select an insurance or mortgage product/service

Details

Group insurance - providing cover for a group of people

How does it work

Benefits of group insurance

ASK A QUESTION / BOOK AN APPOINTMENT

ASK A QUESTION / BOOK AN APPOINTMENT

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