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Group insurance

It is a type of insurance offered by an employer or large scale organization to its workers or members. It is generally offered as a membership benefit package. Coverage cost for each employee is much less as compared to the cost of an individual insurance policy.

The workers may elect to deduct their premium from their paycheck and they might not have to pay anything out-of-pocket for policy benefit.

  • Group Term
  • Group Universal
  • Variable Group Universal

Group Term Insurance

It is the type of insurance policy provided by employer to the employees in the form of a 1 year annually renewable term insurance policy. When the policy is up for renewal, both the insurance company and the employer decide whether to renew the insurance policy or not. Rates can also increase upon policy renewal.

This policy does not accumulate in value. The premiums paid by the employer on such instances are usually not taxed to an employee unless coverage exceeds $50,000.00.

from $99.00

Group Universal insurance

This type of insurance policy continues the benefit of term and whole life insurance. You can either choose to pay the insurance premium only or make payment that build cash (above the cost of the premium).

This type of policy operates like a whole life policy, however, the interest earned on the saving portion of the policy can be used to pay premium. If a large number of people pool their resources to buy a universal life policy that covers them individually, they are used to buy a group universal policy.

from $49.00

Variable Group Universal insurance

This type of insurance is used in executive benefit plans or to fund retiree insurance. Variable Group Universal Insurance provides flexible insurance, a guaranteed amount and an optional sub-account investment choices.

This insurance policy gives coverage to age 100. A choice of tax-deferred investment options, including a fixed account guaranteed not to go below 4.0%. The ability to make withdrawals and loans, usually tax-free that can be used for anything, such as paying college tuition.

from $105.00

Group Insurance

We have just outlined a brief description about types of Group Insurance, however, we can provide you with complete information to guide you choose the best insurance policy.

We can help and assist small and big organizations select a suitable group insurance plan that meets their budget and provide a key benefit to their employees.

References

What our Clients say?

We are dedicated towards providing the best insurance plans to our clients. We aim at providing health and financial security by providing cost-effective and high quality plans.

He was very personable and genuine in helping me through this process without making me feel comfortable or rushed in my decision in my decision making.

Mark Davis October 12, 2014

We got answered to all our queries that we asked and found the service very good with an excellent agent taking care of us.

Nelson ClarkMarch 15, 2015

Company informations

Insurance Agency
Jame Pough

1402 Norman St Ste 3
Palm Bay, FL 32907

Contact details

E-mail address:
jpough@simplehealthadvisors.com

(+1) 844-563-6272

Available 8:00am - 4:00pm