What are group policies?
Group policies exist where an employer gives a collective benefit to employees for life, health, income protection or total permanent disability insurance, or all or any combination of these.
Good people can be hard to find and when you’ve got them, you want to be sure you keep them. One way to inspire their loyalty and encourage long tenure is through group insurance policies. Offering discounts for personal insurance types, and the other benefits that can come from these sorts of policies, can be of significant value to staff. It’s up to each business whether they want to pay the premiums on their employees’ behalf, pay a percentage up to a capped amount, or merely pass the savings onto their staff as a result of their involvement – either way, staff win.