What exactly is a Group insurance?

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Nowadays, most employees are being offered a group insurance by their company. This insurance is very important since it not only gives them access to healthcare, but also protects them and their families.

Group insurance is a compulsory social benefit once an employee admissible (the admissibility date varies from one company to another).

It is important to remind what is included of a group insurance:

  • Life insurance for the employee and his/her dependant.s (children, spouse or partner) which means that in case of death, the beneficiaries will get a lump sum.
  • Disability insurance that allows the employee to keep getting his/her salary in case of long-term disability.
  • Health insurance which is an additional coverage for health-related spending (drugs, paramedical care such as massotherapist, chiropractor, medical devices, eye test etc.).
  • Dental insurance
  • Travel insurance (included in the health insurance).
  • Death and accidental mutilation: an additional insurance life amount can be given.

The benefits of a group insurance are as follows:

  • Shared cost between employer and employee
  • Coverage for yourself and your family with no proof of health
  • The possibility of getting out of RAMQ while getting a more generous protection.

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