Group Insurance
Group insurances are health, life and savings plans that concern the employees of a company and are provided by the employer. Even in financial crises, companies maintain the group insurance policies they have, as they provide mutual benefits to the management of the company and the human resources.
What coverages do they provide:
a) Health: Group insurance policies can cover 10,000-20,000 per year in health costs for each insured. This means that if a health emergency, illness or accident occurs, the insured will be able to use the program to deal with the unexpected in their health in a private hospital. Given the burden on the public health system, this provision is extremely important. At the same time, group insurance also covers medical care, allowances (for example, maternity allowance) and diagnostic tests.
b) Life: This is the traditional life insurance which stipulates that in case of total or partial disability due to an accident or illness we will be compensated with an amount to cover the financial impact of the loss of income from our work. The insurance policies also stipulate that in case of loss of life the amount specified in the contract goes to the beneficiaries of the contractor.
c) Savings:
A savings program can also be included in the group. Depending on the terms agreed, an amount is collected which the employee will be able to receive either after leaving work or upon retirement to supplement his income.
Benefits for employers:
- Employee insurance is deductible from taxable income
- Increases employee productivity
- Motivation to attract new employees and professionals with skills
- Improves the employee-employer relationship
Group insurance policies require planning and specialization. At FlexCare we have undertaken the creation of group programs for large companies with hundreds of employees.
We are here to see together step by step what is the best insurer solution for your business.
