123ArticleOnline Logo
Welcome to 123ArticleOnline.com!

ALL >> Insurance >> View Article

Nova Scotia Group Insurance And Employee Benefits

By Author: john smith
Total Articles: 3

Nova Scotia group insurance is a kind of insurance plan that provides coverage to groups of people, such as employees of the same organization, members of a union or association, or members of a cooperative institute. According to the terms of this kind of insurance, all policy holders come under a single master group policy, owned by the cooperative, labor union, association or employer. Employees who receive insurance coverage as part of employment benefits can also name beneficiaries, and get certificate subject to their group insurance policy. Let us have a detailed look at Nova Scotia group insurance plan.

Benefits of availing Nova Scotia group insurance

A group insurance policy proves to be much cheaper than an individual insurance policy, as the insurance company tends to incur lesser cost because of large numbers of individuals being insured under one cover. Because this policy proves to be cheaper, they become more affordable for those who cannot afford to buy an individual insurance plan. This means that a group insurance plan allows a larger section of population to avail insurance benefits, even those who would not have normally opted for an insurance plan.

In addition to these, the premium cost of a Nova Scotia group insurance plan is not based on the risk factors of individual group members. Subsequently, even people with a serious medical condition can avail group insurance benefits, who were not eligible for a medical insurance plan individually. Under a group insurance policy, all the members of the group are insured with the same premium, and all of them receive same insurance coverage and benefits.

Major advantage of a Nova Scotia group insurance plan is that all the group members are covered as long as their premium is paid. Unlike an individual insurance policy, the insurance company cannot reject an individual’s claim due to his risk profile. The insured persons also do not need to go through a medical check-up while applying for a group insurance policy. Thus, members who are unfit for an individual insurance plan can also avail a group insurance plan.

With an aim to build loyalty among the employees, a large number of organizations have started giving Nova Scotia group insurance to their employees. In most cases, the company pays 100% insurance premium for their employees, thus giving them an added perk in addition to the regular salary. So, if you are also looking to show your employees that you care, the best thing you can do is to give them Nova Scotia group insurance coverage.

For more information please visit nova scotia blue cross and blue cross nova scotia

Total Views: 91Word Count: 433See All articles From Author

Insurance Articles

1. Choose Best Home Insurance Company In California And Find A Best Home Insurance Policy
Author: caleagleinsurance

2. 3 Facts That You Must Know About Freight Factoring Services
Author: Husam Jandal

3. How Staffing Factoring Companies Can Help You To Overcome The Financial Hurdle?
Author: Husam Jandal

4. 3 Major Roles Of Dv Auto Appraisers
Author: Chicago Auto Appraisals

5. Solo Travel: At Least Once!
Author: James Jones

6. Are You Young & Traveling Enough?
Author: James Jones

7. Is It Important To Sign Up For Critical Illness Insurance?
Author: omega insurance

8. How To Make Suitable Investment For Sound Financial Future?
Author: aravi singh

9. The Prospective Risks Of Water Damage
Author: John Anthony

10. Buy Your Health Insurance Online With Ease
Author: shivanikapoor

11. Secure Your Homes With The Best Home Insurance In California
Author: caleagleinsurance

12. Warranty Plan: Why You Should Have It On Your Homes?
Author: Dan-Ror

13. How Can Auto Appraisers Help In Bankruptcy?
Author: Chicago Auto Appraisals

14. Spring Budget 2017 Fails To Impress Uk Smes, Hints To The Need For Business Insurance
Author: Brijesh B.

15. Do I Need A Golf Insurance?
Author: Omega insurance

Login To Account
Login Email:
Password:
Forgot Password?
New User?
Sign Up Newsletter
Email Address: