How Partnering with the ClearBenefits.ca Provides Better Group Benefits
Whether you’ve been running a business for several years or starting a venture, you have an immense amount of responsibilities on your plate. As you may not be well-versed in the world of insurance, there is a high chance you may make a mistake choosing the best policy.
While some errors can have a minute impact, others can be devastating to your finances. After extensive research, you discovered group benefit plans. However, before you decide to invest in these policies, you want to know whether you’re making the right decision. Will partnering with cooperators provide better group benefits? Given below is all the information you need to know about pooled programs, along with how they will be advantageous to your business.
Affordability over price
When you want to purchase an appropriate policy for your company, the first thing you look at is the price of the premium. Although this is the right approach, you should know that it doesn’t provide the complete picture regarding coverage.
For instance, you decide to get policies for each employee individually. Although it provides extensive coverage, the downside is that not everyone on your staff will find it affordable. If there are employees who earn $12 an hour, they may not be able to pay the premium.
However, when you opt for pooled programs, the plans become affordable for you and your staff. When it comes to group benefit policies, you share the cost of the premium with your employees. Most companies opt to split the amount payable to the insurance company with their staff by 50%. This ensures everyone can afford the group benefit policies, giving everyone in your company the best coverage.
All employees have access to insurance
When you opt for a pooled benefit program, all your employees get appropriate coverage. It is essential to keep in mind that these plans focus on affordability over everything else. As affordability is subjective, it varies from individual to individual. By choosing group benefit plans, all your employees can get insurance, even if they couldn’t afford it earlier.
For example, everyone who works for your business will get dental, extended health, and life insurance. As you are splitting the costs with your staff, both parties will only have to spend approximately 3% – 3.25% or slightly more of the payroll for the premium.
When you go for group benefit plans, you don’t have to settle with the cheapest policies which offer minimal coverage. You get extensive insurance for all your employees with pricing that is affordable for all.
When it comes to buying group benefits, who should you approach? Should you go to an advisor who focuses on client priorities or a spread sheeter who only pays attention to value and cost? The answer is always an advisor, as they want to ensure you get the best policies without having to compromise on coverage.
If you want your business to benefit from the advantages of pooled programs, you should get in touch with ClearBenefits. Rather than focusing only on costs, we ensure the coverage we provide meets your expectations. We will always make sure the policies we recommend will meet your requirements, irrespective of the size of your business.
We hope we have explained how partnering with the ClearBenefits.ca provides better group benefits