Group Insurance Programs

Group insurance is one insurance policy covering a group of people. The benefits of having a group insurance plan greatly outweigh the disadvantages:

• Group plans are generally cheaper because the insurance companies profit from having more people in their plan, with a lower cost to the participants.
• Some employers cover part or all of the insurance premiums.
• There are no physical exams or health history questionnaires to complete.

Group Health Insurance

• Most Americans participate in a group health insurance policy, through their work or other organization. Group health insurance plans provide employees with medical coverage at economical group rates.
• A limiting of choices is the major drawback to group health policies. New enrollees to an already established plan have no voice as to what type of policy would service their purpose, amount of premium, deductible and maximum lifetime coverage

Group Life Insurance

• Group life insurance covers the lives of multiple persons with the owner of the “master plan” being the employer. The insured persons generally may name their own beneficiaries.
• Benefits can be the same amount for all employees or can be based upon salary or class of employee.

Group Dental Insurance

• Coverage is generally provided for preventive services, (cleaning, x-rays and exams), minor restorative services (filings) and major restorative services (crowns, bridges, root canals). Sometimes and optionally, orthodontia is covered.

Group Vision Insurance

• Coverage is generally provided for services relating to the care and treatment of the eyes. It typically covers services offered by an optometrist or ophthalmologist.
• Some vision plans may provide more extensive coverage, while others may limit coverage to “reasonable and customary” charges incurred during routine eye exams. Reasonable and customary charges generally do not include the cost of glasses and contact lens.

Group Disability Insurance

• Group disability insurance plans provide employers with the ability to help employees protect two of their most valuable assets – their paycheck and their ability to earn one. Group disability insurance provides a reasonable and adequate substitute for lost income in the event of a disability.
• Group disability insurance plans do not provide adequate protection against disabilities. The reality is that personal policies cost more than group, but they also pay more money in more claims scenarios and can protect your income in your own-occupation.

NOTE: Investment products offered through Enterprise Bank & Trust are:

• NOT FDIC insured
• NOT guaranteed by Enterprise Bank & Trust or any of its affiliates
• Subject to investment risk and may lose value