Insurance
Group Insurance
A single master policy covering a defined group: employees of a company, members of an association or borrowers of a lender. Underwriting is done on the group rather than on each individual, which is why cover is available without medical tests and at a lower per-head premium than the same person would pay alone.
What you get
- Group health, group term life and group personal accident under one master policy
- Underwritten on the group profile, so members usually join without a medical test
- Member additions and deletions handled mid-term as staff join and leave
- Employer or association contribution split configurable per member category
- Dependant cover extended to spouse, children and parents where the policy allows
- Claims handled centrally, with one point of contact rather than each member alone
FAQ
About group insurance
What is the minimum group size?
Insurers set their own floor, and it differs between group health and group term. It is confirmed for the specific insurer and product before a quote is issued rather than assumed, since a group just under the threshold is quoted differently.
What happens to an employee cover when they leave?
Group cover ends with membership of the group. Some insurers allow the leaving member to convert to an individual policy, sometimes without fresh underwriting, but only within a short window after exit. Employees are best told this at exit rather than discovering it at a hospital.