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There is a huge percentage of population that does not invest in insurance, even though it is one of the most important types of investments one should make in his life. The reason behind this might be because they think they cannot afford to buy insurance or they do not have enough information to help them make an informed decision. Thus it is important that you gather as much knowledge as possible about the various insurance policies, so that you can decide which insurance you need to ensure safety and security for yourself and your family members.
Some of the most common insurance that people know about are homeowner’s insurance, business insurance, auto insurance including boat insurance in Mountain View, etc. But there are a number of other types of insurance policies that may also provide the benefits that you are looking for. Here we will discuss about group health insurance in Stanford and Mountain View CA and why it might be beneficial for you.
What is Group Health Insurance?
Group health insurance is a policy that is designed to offer health-care coverage for a group of people. A group of two people will also be eligible to buy group health insurance. Group health insurance is often provided by employers for their employees which offers healthcare coverage for the employee, spouse, dependent parents and dependent children (up to a certain age).
Why Group Health Insurance is a Good Choice
Unlike individual health insurance, you are not required to submit medical reports or undergo any medical check-ups to buy this coverage. Moreover, there is no waiting period and you can get this insurance with pre-existing conditions. This is the reason why many people consider investing in group health insurance. Some of the advantages of group health insurance include:
Lower insurance premiums: Group health insurance is often a cost-effective choice since the monthly premiums are lower compared to individual health insurance. In fact, a group health insurance can be 30 percent cheaper.
Maternity cover: Unlike individual health-care insurance, maternity benefits are offered under group health insurance.
No waiting period: You are not required to wait (for any period of time) to avail the benefits offered by group health insurance. This is one major advantage over individual health care plans.
No medical check-up: Enrolling in a group health insurance is much easier than enrolling in individual health-care insurance, since you need not undergo medical check-ups or submit medical reports.
You may also be eligible to get some additional benefits depending upon the policy you buy or the one provided by your employer. However, the only disadvantage of a group health insurance provided by an employer is that you will no more be able to avail the benefits if you leave the job. Now that you know about the basics of group health insurance, you can better decide whether it will be beneficial for your or not. If you want to get in-depth information, you can discuss it with an insurance agent or directly with your insurance provider.