Group Life Insurance

Group life insurance is available to clients with 2 or more employees. The most common plans offered by employers provide a multiple of an employee’s salary starting with 100% to as high as 500%. Some employers offer a flat benefit amount such as $25,000 or $50,000 of coverage. Benefits can vary by employee classification such as income or job title. This benefit is typically paid for by the employer.

Life related benefits include:

• AD&D – accidental death and dismemberment (usually equal to the basic life benefit)
• Dependent Life covering spouses and children of employees
• Travel Accident plans

Group Size: 2 or more employees
Rate Guarantees: 2 or 3 years
Plan Types Available: Traditional or Voluntary

Plan Considerations:

• Health underwriting for small groups under 2-9
• Guarantee issue 10 or more employees
• Guaranteed coverage amount varies by size of group and volume of coverage purchased