Typically Group Insurance Benefits are purchased and controlled by an employer, however this can include any insurance policy available to multiple policyholders. Without the stresses of worrying about financial health, employees are often less distracted and this has a positive impact on the workplace. By offering more than the minimum of Benefits, employees have increased loyalty.
If you are looking at choosing Benefits for your employees, these are important factors to consider. Additionally, Benefits may be an attractive alternative compensation mechanism for your business, as raising salaries could result in a tax increase. This can also be an attractive incentive for new employees when negotiating job offers. Our Nova Mortgage team can help you weigh the pros and cons to different scenarios with Group Insurance Benefits, so come talk to us today!