Group Insurance is a single insurance policy covering a group of people, typically employees, offering benefits like health or life insurance at lower costs through collective bargaining.
- What is group insurance?
Answer: It is a single policy covering a group, like employees, for benefits. - What types are common?
Answer: Types include health, dental, and life insurance. - What are the benefits for employees?
Answer: It provides affordable coverage and tax advantages. - How is it funded?
Answer: It is funded by employer contributions and employee premiums. - What role does HR play?
Answer: HR administers enrollment, educates employees, and ensures compliance.
