Group Insurance

Group insurance is a type of coverage that provides benefits to a defined group of people, typically employees of a company or members of an organization, under a single master policy. Instead of each person purchasing an individual policy, the group is insured collectively, which allows members to access broader coverage at lower rates. The employer or organization acts as the contract holder, while individual participants receive a certificate of insurance outlining their specific benefits.

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Group insurance commonly includes health, dental, life, disability, and accidental death coverage. Premiums are often shared between the employer and employees, and eligibility is based on employment status rather than medical history. Because risk is spread across many members, group insurance can offer guaranteed coverage with minimal or no medical underwriting.

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Example:

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If your employer provides a group benefits plan that includes extended health, dental, and life insurance, you and your eligible dependents are automatically covered once you meet the plan’s eligibility requirements, such as completing a three-month waiting period.

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What to Watch For:

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Review your group benefits booklet to understand what coverage is included, how much the employer pays, and what portion you contribute. Coverage generally ends when employment terminates, but you may have the option to convert to an individual policy within a specific time frame. Keep your contact and dependent information up to date to avoid claim issues.