A Policy That Offers A Lot Of Benefits
Protecting what matters most to you is at the root of what we do! That’s why we have a variety of group insurance offerings that protect both your business and your employees. We can help you determine the right amount of coverage to keep your business and employees safe while making your company or organization stand out by creating competitive benefit packages for current and future employees.
Providing The Very Best In
Group Health Insurance
Group health insurance provides medical coverage for employees or members of a company or organization. The cost of group health insurance plans to the policyholder is typically lower than individual insurance coverage since the risk to insurers is spread across plan members. Offering health coverage to your employees is a typical perk that full-time employees expect. We can help you determine what plans may be best for your organization and your employees, or give you several options.
Group voluntary insurance, also sometimes referred to as voluntary benefits, are plans that provide employees the option of enrolling in health coverage at a significantly lower rate than if they were seeking individual coverage but come with little to no cost to the employer. It usually comes with a payroll tax benefit to employers and also benefits the employees from a tax perspective since premiums are deducted from their gross pay. We look at that as a win-win! Group voluntary insurance is a good way to compete with larger companies for top talent without costing you, the employer, top dollar to provide the best benefits.
Employees have personal lives outside of work and unfortunately for business owners this may impact their work performance. An employee assistance program (EAP) is an employer-provided intervention program which can help guide employees and their household through resolving personal problems like substance or alcohol abuse, relationship issues, financial problems, legal problems, trauma resulting from workplace violence, or other wellness issues at no cost to employees. It may even include adoption assistance. Services may be provided over the phone, video calling, online chatting, email, or in-person.
Group Life Insurance
Most employers add group life to round out their employee benefits package. Group life insurance differs from individual life coverage because one policy covers the entire group who opts in. The cost of group life coverage is often far less than if your employees were to take out an individual policy, and they are still able to select their chosen beneficiary.
Accidental death and dismemberment insurance is an optional addition to increase the scope of a life insurance policy. This policy addition covers the accidental death of the insured as well as dismemberment, which typically includes loss of use of a body part or a function including speech, eyesight, hearing, and mobility of limbs. This is often added by employers who operate businesses with a high risk of physical injury.
There are certain members of an organization who cannot be replaced, or at least can’t be replaced easily. This often applies to a business owner, founder, or perhaps certain members of your c-suite, or the most valuable and irreplaceable employees to a small business. In this case, a business can take out key person insurance, a life insurance policy that can help in the instance of a key member of the organization dying or becoming disabled. The payout on this policy can help a business offset the cost of replacing this person and any lost revenue as they seek a replacement.
For businesses owned by multiple partners or owners, a buy/sell insurance plan is a good way to protect the living business owners as well as the living family/relatives of the deceased. This insurance plan allows the living owners, or sometimes the company as an entity, to buy out the deceased’s shares in the organization, in pre-agreed upon terms outlined in your buy/sell contract, and requires the living heirs of the deceased to sell their company shares at the price outlined in the agreement.
Group Disability Insurance
Group disability insurance is an affordable way to provide employees protection in the instance of becoming too injured or sick to work. Plans typically include short or long-term coverage and provide monthly payouts to employees to cover the loss to their income.
Long-term care insurance is an option to protect employees retirement fund in the instance that an illness or condition such as Alzheimer’s or a stroke requires long-term custodial care. Many of these conditions may not be covered by employer-provided health insurance and fall outside of government-supported plans, thus costing a significant amount out-of-pocket. Offering group long-term care is a great way to provide peace-of-mind to your employees about the uncertainty of affording home health care or assisted living support.