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Group Insurance › Life |
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Group life insurance is an inexpensive and invaluable ancillary-type benefit. Group Life plans provide employees with the means to protect their family and loved ones, and are often the only kind of life insurance an individual may carry. Group life plans provide an advantage to individual life plans in that they are usually issued on a guaranteed basis (without requiring any medical questions or exams on the part of the insured). Group life insurance can provide the same coverage as individual life plans and/or can supplement an individual life policy. Depending on the insured's health status, group life can be provided at a lower premium than an individual life plan. If an employee has any health issues, a group life plan might actually be the only way by which he or she can obtain such coverage. Group Life premiums can be offered as either fully or partially employer-paid. The most common group life plans provide a benefit in terms of a multiple of salary (such as 1 to 3 times salary) to a maximum benefit amount. Employers can 'class out' their employees on such plans to offer a higher benefit level to managers or officers, and/or to offer the benefit only to a certain class or level of employees. Other types of group life plans offer a 'flat' benefit amount such as $10,000, $50,000 or $100,000. Plans can be tailored or customized to fit the company's objectives to satisfy its employees. As an added feature, group life coverage can be converted to an individual policy upon one's termination of employment, within a certain time period (usually 30 days), without any evidence of insurability. For a complete listing of the various life carriers we represent, go to our carrier websites page. Please contact us for a quote or complete the appropriate form below for your group: |
 
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