There are various types of insurance policies available in the market. Group insurance is one such policy under which a certain number of members belonging to a particular organization, society or institution. They could also be under a particular employer who provides them this type of an insurance coverage. This policy is usually expensive and the cost of it is distributed among the members who are genuinely interested in getting themselves insured under this particular scheme.
However, when you decide to come under a particular umbrella which shelters many others beside you, then automatically it becomes much less expensive and you do not have to play lump sum amount in order to continue the policy in your name just like you would have to pay if you had a personal health insurance scheme. At the same time, a group insurance boosts the confidence of the employees.
For group insurance, quite a few people are assembled together to form a group but it has to be ensured that they belong to the group not for the insurance but primarily for some other cause other than insurance. If they have eligibility to get policies for themselves, they do the necessary application. But the purpose of group insurance is not necessarily the security against a high-risk factor but more for the sense of belongingness to a group.
One of the most interesting features of a group insurance is that the premium that you have to pay to continue with the policy is not based on the risk factor. Actually, the amount paid by all the insured members of the group is the same for a specific scheme. Then most policies insure you against all sorts of emergency and routine medical processes such visiting doctors on a regular basis and hospitalization in case there is any accident.
However a group insurance normally does not insure your spouse or the ones dependent on you. And then there are some policies also give you the benefit of opthalmic, dental and psychiatric care. The policy might even support you if you have to buy medicine on a regular basis as per the prescription of a qualifies physician.
Are you planning to opt for group insurance? Beverley Hills is a good place to start your search, as a number of reputable providers of financial services operate in the region.
However, when you decide to come under a particular umbrella which shelters many others beside you, then automatically it becomes much less expensive and you do not have to play lump sum amount in order to continue the policy in your name just like you would have to pay if you had a personal health insurance scheme. At the same time, a group insurance boosts the confidence of the employees.
For group insurance, quite a few people are assembled together to form a group but it has to be ensured that they belong to the group not for the insurance but primarily for some other cause other than insurance. If they have eligibility to get policies for themselves, they do the necessary application. But the purpose of group insurance is not necessarily the security against a high-risk factor but more for the sense of belongingness to a group.
One of the most interesting features of a group insurance is that the premium that you have to pay to continue with the policy is not based on the risk factor. Actually, the amount paid by all the insured members of the group is the same for a specific scheme. Then most policies insure you against all sorts of emergency and routine medical processes such visiting doctors on a regular basis and hospitalization in case there is any accident.
However a group insurance normally does not insure your spouse or the ones dependent on you. And then there are some policies also give you the benefit of opthalmic, dental and psychiatric care. The policy might even support you if you have to buy medicine on a regular basis as per the prescription of a qualifies physician.
Are you planning to opt for group insurance? Beverley Hills is a good place to start your search, as a number of reputable providers of financial services operate in the region.