Group Insurance Programs and Benefits

Group Insurance

Montana Life Group offers group insurance programs for businesses and associations. Our group insurance programs can be set up as an employer-paid benefit or a voluntary benefit at the employees’ cost. We offer free administration of the group insurance programs, which can be set up as a payroll deduction. There are numerous reasons for an employer to offer group insurance. First, with a group insurance program, companies enjoy increased employee loyalty. Also, by offering a group insurance program a company’s workforce is more financially secure. In fact, group insurance is usually less expensive than individual coverage. Our group insurance programs can be customized to fit each business’ needs. Best of all, we offer the option for 100% online enrollment of benefits programs therefore employees can enroll in benefits on their own time.

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Why Offer Group Insurance?

  • No Cost or Low Cost to Employer: Programs can be set up as employer-paid, employee-paid, or any combination.
  • Less Expensive: Group insurance is usually less expensive than individual coverage. With a group program your employees will save money on important financial protection. Some group insurance programs actually have no cost to the employer.
  • Easy Underwriting: Group insurance typically has less strict medical underwriting. This allows employees who would not normally have access to valuable insurance protection (employees with medical issues) to obtain coverage.
  • Employee Loyalty: Group insurance increases employee loyalty. Even an employee-paid voluntary program is a great benefit through work.
  • Health Insurance Supplement: Group insurance can make up for higher deductible health plans. The Affordable Care Act has caused increased health insurance deductibles and a group plan can be a low cost option to help bridge the gap. Medical bridge insurance is designed to help with this need.
  • Employee Protection: Group insurance makes your workforce more financially secure. Ever had an employee ask for a payday advance to pay for a medical bill? It’s not fun. Help your workers become financially secure with a group program designed specifically for financial protection.
  • Online Enrollment: Our online enrollment process allows employees to enroll in benefits on their own schedule instead of company time.

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Types of Group Insurance 

Group Life Insurance

Employer-Paid Life Insurance: We offer several group life insurance plans that can be set up as an employee benefit. Programs of this type are typically “guaranteed issue,” meaning every employee receives life insurance coverage regardless of their medical history.

Executive Benefits: Employer-paid plans with attractive executive benefits are also available. Executive benefits can be optimized for tax advantages.

Employee-Paid Life Insurance: Voluntary employee-paid life insurance plans can be stand-alone plans or bundled with an employer-paid plan. This type of voluntary plan can be set up as an optional payroll deduction. With a voluntary employee-paid life insurance plan, employees are able to take advantage of low group life insurance rates and less restrictive medical underwriting. An employee-paid life insurance plan does not have a cost to the employer, but it does increase employee loyalty.

Group Disability Insurance

Short Term Disability Insurance: Short term disability insurance is income protection against a short term sickness or injury. This type of coverage can be set up as an employer-paid benefit or as an employee-paid voluntary benefit. This low cost income protection typically pays the insured a monthly “insurance paycheck” if the employee misses work due to a sickness or injury. Benefits on short term plans are typically limited to benefits for the first 14 days to 6 months of a medical condition (plans vary).

Long Term Disability Insurance: Group long term disability insurance is an excellent benefit to employees – even when set up as a voluntary benefit. Group long term disability insurance pays a monthly “insurance paycheck” to the insured after missing work for an extended period of time (usually 90 days). This type of coverage offers continuous income protection for medical conditions that cause a serious disruption in work. We have a wide variety of long term disability insurance plans available, including the highest quality “own-occupation” insurance plans.

Group Medical Bridge Insurance

The Affordable Care Act has caused increased deductibles in many group health insurance plans. For that reason, many people are turning to medical bridge insurance to cover the cost of the first $10,000 (plans vary) in medical expenses. These plans can be set up as employer-paid benefits or employee-paid voluntary programs.

Group Critical Illness Insurance

This type of plan pays a lump sum dollar amount to the insured after diagnosis of a critical illness. Critical illnesses include most types of cancer, major heart attack, stroke and other major medical conditions (plans vary). This type of coverage can be offered as an employee benefit or an employee-paid voluntary program.

Group Cancer Insurance

Similar to critical illness insurance, cancer insurance pays a lump sum benefit for the diagnosis of cancer. This option is less expensive than critical illness insurance and it is available with reduced underwriting requirements. Group cancer insurance can be employer-paid or employee-paid.

Group Accident Insurance

Group accident insurance is an inexpensive benefit that helps limit “Monday morning workers comp claims.” Accident plans are inexpensive and they can be a great benefit for active employees.

How Does Group Insurance Enrollment Work?

We offer full service enrollment in group insurance with no added headaches for HR personnel. We can even handle the enrollment for core health insurance plans on behalf of another agent. We design our enrollments to be extremely efficient. We understand that your company’s time is valuable. For that reason we offer weekend and after-hours enrollments as well as online virtual enrollments.

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