Group-term Life Insurance
Group-term life insurance is coverage that employers offer to employees only and it is a common employer-sponsored life insurance offering. This article discusses the basics of this coverage, plus important rules and considerations. Coverage may be employer- or employee-paid. Often, employers offer a specified benefit (flat fee or percentage of salary) that is cost-free for employees, then offer the option for employees to purchase additional coverage. Because spouses and dependents are not covered under this type of plan, some employers also offer a separate voluntary plan to cover these individuals if employees choose. This coverage is generally very affordable for employers to offer, because the group plan spreads risk over many people so premiums tend to be low. Learn more about advantages and tax implications for Group-term Life Insurance:
Educate Employees on the Importance of Life Insurance
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How much Life Insurance should I buy?
Advantages of Cash Value Life Insurance