If you aren't providing life and disability coverage's to your employees, then there is no reason for you not to consider offering voluntary policies. These plans are flexible, easy to set up, easy to maintain, and available at group rates. They provide a foundation of protection to your employees, and are available at no cost to the employer.

Voluntary group life is available to employees and spouses, sometimes even children, with face amounts, typically, up to $300,000 in simplified issue coverage. These plans are:

• cost-effective
• portable
• practical
• Also available are employee-paid universal life plans, which build tax-deferred cash values.

Voluntary group disability is available in short and long-term coverages; most employers will find that offering both on an employee-paid basis will be needed. These plans provide:

• protection for wages in the event of an illness, injury, or accident that are not job related
• employee-paid plans are not subject to federal taxation on the benefits at time of claim, unlike employer-paid benefits, and are paid to the insured tax-free
• Voluntary disability plans look much like group disability insurance plans, with an easy underwriting process. Limits to insurability amounts, definitions of disability, and other key differences may make individual, fully underwritten policies for key employees and highly compensated executives more attractive; these can be provided through the employer on a discriminatory basis. For more details, see Executive Benefits.

Typically, an employer announces the plans to the employees and establishes an open-enrollment period. We provide personalized presentation and confidential advice to your employees. For a consultation on voluntary life and disability planning, email us at info@viehdorfer.com

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