Wholesale Insurance

Definition - What does Wholesale Insurance mean?

Wholesale insurance is sold to businesses that want to offer insurance coverage to their employees as a workplace benefit. The employer can set up a wholesale insurance program so employees can buy health, life, and/or disability insurance. Depending on the type of coverage, wholesale insurance is available to companies with between five and 50 employees.

Insuranceopedia explains Wholesale Insurance

Insurance companies give discounts to companies that want to offer insurance coverage as a workplace benefit to their employees. Insurance companies do this because they'll sell multiple policies at the same time.

The best rates go to group plans, which are only available to companies with more than 50 employees. Wholesale insurance isn't quite as good of a deal, but it still allows employees to buy coverage at a discount. Another benefit is that wholesale insurance sells individual policies to each employee, making it easier for them to continue their coverage if they leave the job.

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