Group life insurance is an important employee benefit that provides valuable protection for employees and their families. It can help ease the financial burden for loved ones in the event of an unexpected loss.
Employers have a range of options when it comes to designing a group life insurance plan. Optional coverages can include voluntary life insurance, supplemental life coverage, accidental death and dismemberment policies, and dependent life insurance. These options allow employees to customize their coverage to suit their individual needs.
One of the advantages of group life insurance is that the premiums paid by the employer are generally tax-deductible as a business expense. Additionally, the cost of a stand-alone group life insurance policy is usually less expensive than an individual policy.
At our insurance agency, we understand the importance of group life insurance as a benefit for employees. We work with employers to design custom plans that meet their specific needs and budget. Contact us today to learn more about our group life insurance options.