How To Decide On Which Group Insurance Policy Company To Opt For

How To Decide On Which Group Insurance Policy Company To Opt For

The reasons for buying a group insurance policy through an employer are many.

  • The policy is very convenient and beneficial to those who do not already have a life insurance policy. In fact, the group insurance policy is cheap and is an easy way to protect oneself from an unexpected event
  • The premium rates offered are highly lucrative and this is much better than an individual life insurance plan
  • The group insurance plan does not check individuals medical health and thus this is beneficial to those who have some medical history
  • The rates are low and it is thus very affordable

How should you decide from where to buy the group insurance policy?

The free group insurance plan offers the basic coverage. However, it is something that you need to contribute towards then it makes sense to shop around a bit. Compare the life insurance policy offered by your employer with the insurance policy for individuals. If the cost is more or less same and also the coverage looks pretty much the something for an individual policy. An individual insurance plan is also very portable. However, take care to ensure that you do not end up paying a very high premium for the same plan that your employer may be offering you for a better rate

In case you have dependents then you could buy an individual plan as well as a group insurance plan. Also if you do not have a good health history then the group insurance plan is the best choice for you.

Start by reviewing what the details of the group insurance plan are and then if it meets your needs and offers enough coverage then you could opt for this plan.


The group insurance plan will cease to exist if you leave the company. Thus you can benefit from it only until you are employed with the company. Some of the insurance companies will let you continue with the plan if you agree to convert it into an individual plan after you leave the company. This is a good option for those who may not be able to get a good insurance plan because of their health conditions. They can opt for the group insurance plan and in case they quit the job then they can convert the same to an individual insurance plan. So choose the insurance plan carefully not just by the premium but also the coverage that it offers or you can also try and invest in online trading robots like Bitcoin Trader or in another source of income which could help you cope the sudden medical expenses.