Group Life Insurance
Life Insurance Plans to provide your employees with the financial protection they need. Where employees who have poor health history or family history of illness may not be able to get life insurance on their own, as an employer you can offer your valuable employees a fixed amount of life insurance that can make a difference should the unthinkable happen. We offer several different configurations and types of employer provided life insurance:
You can even provide an entry level amount of life insurance and allow employees to purchase additional insurance at your group rates if they medically qualify.
It is important to keep in mind that if Life Insurance is purchased with before tax dollars (i.e. employer paid) than the benefits on policy amounts over $50,000 become taxable. For this reason it might be a good idea to offer up to $50,000 as employer paid (this is less expensive than you may think) and then offer additional amounts that the employee can purchase on their own if interested.
- Accidental Death & Dismemberment (AD&D) benefits
- Employee Life Insurance based on flat amount or factor of salary
- Dependent Life Insurance benefits
You can even provide an entry level amount of life insurance and allow employees to purchase additional insurance at your group rates if they medically qualify.
It is important to keep in mind that if Life Insurance is purchased with before tax dollars (i.e. employer paid) than the benefits on policy amounts over $50,000 become taxable. For this reason it might be a good idea to offer up to $50,000 as employer paid (this is less expensive than you may think) and then offer additional amounts that the employee can purchase on their own if interested.