Maximum Benefit will secure quotations for the insured benefits of your program, highlighting not only the cost difference but also the differences in provisions and features each insurer offers. Knowing all the facts allows employers to better make decisions that meet their human resource and financial needs.
Should you choose to change insurance companies in the future, by using Maximum Benefit there is no need for re-enrolment. Switching your insured benefits from one insurer to another is totally transparent – no employee applications and no new identification numbers to be issued.
In the group insurance industry, insurers spread the risk of catastrophic benefits like life, long term disability, and even travel health coverage.
There is no way for insurance companies to predict what these low frequency but high claim expenses will be for each employer, so the risk is spread across their entire client base. Typically, employers then pay similar rates within their industry regardless of their claims record.
This is the purpose of pure insurance: to cover high-cost, unpredictable losses.
