Group Life


Group Life

Group Life Insurance is a type of life insurance in which a single policy contract covers an entire group of people. By adding Group Life Insurance to your benefits package, you’re helping to protect your employees and their families from financial hardship in the event of a death. In most cases the cost of group life insurance is far less than what an employee might pay for individual insurance. If you are offered group life insurance through your employer you should usually take it, especially if you have no other life insurance of your own.

                                              Top Features:
• Waiver of Premium Rider – Waives the obligation to pay any further premiums should an employee become totally disabled (specified amount of time differs by policy contract).
• Conversion – Allows an employee to convert their Group Life Insurance into a permanent life insurance policy without undergoing a medical exam. Permanent life insurance policies build cash value.
• Portability – Allows an employee to port (continue) their Group Life Insurance when their employment is terminated (voluntarily or involuntarily). This is a Term Life Insurance product (for a specified period of time) and does not build cash value.

Group Accidental Death and Dismemberment is a type of policy that pays benefits to beneficiary if the death is caused by an accident, rather than natural causes, or dismemberment, which includes the loss of the use of certain body parts (including limbs or eyesight).

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