Group Life Insurance
If you own your business with employees you may have discovered that attracting and retaining top-notch employees means offering a variety of benefits, including group life insurance. Most employees who are offered life insurance at work almost always take it.
Although not as important ad Health Insurance, Life insurance is one of the top benefits companies keep in their benefits package to remain competitive in the workforce. Whether funded by the employer or by the employees or both there are many ways a business can offer group life. Businesses generally offer different group life policies based on class of the employee. Group Life polices are offered on a guaranteed issue basis with no medical exam required from any employee.
Depending on your budget and how much your employees contribute we can build an attractive Life Insurance benefit for your business.
Group Universal Life: adds side fund account for employees that want a way to supplement retirement income.
Group Term Life Insurance:provides pure insurance protection and is a fairly inexpensive benefit especially if there are a number of younger, lower-paid workers on the payroll.
Group life insurance costs are based on your company size & SIC class, average age of your employees and if they are male or female. A professional office will pay less than say, a building contractor.