Having individual health insurance is really crucial if you do not get group health insurance where you are employed. Medical insurance will help you cover your doctor visits, medical treatments, and also prescriptions. Medical costs might cause you financial difficulty if you get seriously ill or injured. You actually cannot afford not to get personal health insurance whatever way you must get it.
As a business owner, you would like to make sure you care for your employees, along with the benefits world which includes providing health insurance. You will realize that people you care for have complete protection and providing insurance enables you to be a fascinating employer in a more competitive job market.
Group insurance is a great way of affording life protection to almost all the workers in a particular company at a low rate. A single policy is granted to the employer. Every employee protected by the insurance gets a certificate as proof of his coverage under the group plan. The certificate adds the name of the holder whom the employee has selected.
A medical check is needed, the only requirement being that the worker should be actively at the workplace on the day the insurance coverage has effect. There is absolutely no age limit; every person from the office boy to the senior employee may have some protection, but the expenses to the company for aged employees are high.
As employees have a tendency to leave throughout the early months of their job , it is common to require a worker to stay with the company a specified period of time ( generally 3 months ) before he can find delight in the benefits of group insurance . The amount of insurance cover that any employee can have under the group policy is stipulated in the contract.
Group insurance coverage is the cheapest insurance as the insurance provider can sell coverage under the group policy at a lower rate than the expense of the same policies acquired for each employee personally.