Employee & Group Insurance Benefits in NJ

Virtually all forms of insurance today come with a group plan option. With a group plan, rather than the relationship existing between the insurer and the policyholder, there are a number of members are covered under the insurance plan.

Why should you consider taking out group insurance coverage?

This form of insurance is exceptionally popular with business owners. A firm can provide group coverage to it’s employees, either for free or at a very low cost, providing a number of benefits. Benefits include a reduction in your tax liability as well as an incentive to help you hold onto your best talent and motivate your employees to work hard for your company.

For the employee, group benefits provide access to an insurance plan they may not be able to afford themselves or a plan that might not be available to them at all.

The benefits of a group policy includes a reduction in your tax liability and provides incentives for your employees.

Costly Mistakes When Choosing Insurance Companies

There is no shortage of insurance companies offering ‘the best’ product or policy.

  • Picking the first insurer you find
  • Selecting an insurer without looking into them
  • Selecting an insurer based on cost
  • Choosing a policy for its premium only
  • Purchasing too much or not enough insurance
  • Making a decision without learning about the claims process

Why A Broker Is Best

One of the biggest mistakes you can make is choosing an insurer without doing any research about them. It is a good idea to look for insurance companies that have a good amount of experience in the industry, and an excellent reputation to back it up.

Another common error is selecting a company or policy based solely on cost. A cheap insurance plan can end up costing you a fortune in the long run. The most common reason for a policy being cheap is because it does not offer enough coverage. If you are underinsured, you could be defeating the purpose of having insurance in the first place. Another reason why the policy may be cheap is that the price rises every month, or the premiums can be reviewed and, therefore, increased on a regular basis.

Other mistakes people often make include failing to read all the terms and conditions regarding group benefits, picking the first insurer you come across, and failing to discover what the claim process entails. This is why working with a broker, like Harrah & Associates, is critical for every business owner. We will act as an extension to your business, assessing your requirements, presenting you with all of the options available, and explaining them in full. This is the only way to ensure you end up with the right group plans for you.

For group insurance, Harrah & Associates is the company you need

Employee and group insurance policies are extremely beneficial. If you are interested in learning more about a group plan, from medical insurance to life insurance, get in touch with Harrah & Associates for more information. We’re ready to help you choose the right policy for your needs.

Get in touch with an insurance expert today.

There are a lot of employee benefits available today, and life insurance is one of the most valuable. Take care of your employees and give them peace of mind.

Group health insurance is a great way to get coverage as both an employer and an employee, protecting your workforce. Make sure you get the right policy.

Long-term care insurance provides care over time. There are many types of group long-term care coverage, which a trusted member of our team can explain.