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