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Group Life Insurance is a key element in any employee benefits package:
An employer is allowed to provide up to $50,000 in group term life insurance to employees, tax-free. Offering life insurance face amounts of two or three times salary is also common; the drawback is that the premiums paid by the employer must be included in the employees taxable wages.
(Note: Some health carriers now require the purchase of life insurance with a medical plan. While this is a good deal for the carrier, in most respects it isn't a good deal for the employer. Better value is achieved by developing a stand-alone life program with both group and voluntary supplemental elements. All things considered, choosing a health plan that does not require life insurance is often a better value.) Group term and voluntary life insurance is made available on a simplified issue basis, sometimes with guaranteed issue limits. This is especially attractive to employees who might otherwise be uninsurable, depending on group size. double indemnity, AD&D, common carrier provisions, and travel accident coverage can also be arranged on these plans. For more information: Home | Site Map | About Us | Email | Quotes | Contact Form | Privacy Policy | Links | Search |
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