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 (generally 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:

• Guarantee issue
• Guaranteed coverage amount varies by size of group and volume of coverage purchased
• Coverage amounts flat dollar or X base annual earnings
• Additional life amounts (voluntary)
  • Employer
  • Spouse
  • Dependent