Group insurance plans benefit both the employer and the employee. They cover everyone and provides protection in case of an unforeseen circumstance. For the employer, a group plan is a good way to keep and attract employees. It makes the compensation package more attractive. For the employee, there is an assurance that you have access to a lot of benefits.
Health insurance given to employees of a company is usually different from the health insurance that we purchase ourselves. Companies would usually make their employees join a group health insurance plan. There are a few benefits that group insurance has compared to the individual one. It can be cheaper, provide more coverage, has smaller deductible, or perhaps you won’t need to go through medical examination to get one.
There are some things that you’d rather keep to yourself and not share to other people. But, for insurance companies, they want to know certain personal information about you-- even those you want to keep as secret.
Have you ever gotten yourself an expensive gadget like a new phone, computer, or entertainment system only to realize you barely understand how it works? Imagine having the same problem with your life insurance policy. You’ve signed your contracts and paid your dues, trusting your investment will work out. Unfortunately, when you end up needing to use it, you discover that you barely understand it at all. It becomes a lot more frustrating, doesn’t it?