Group Life Insurance

 Essential Life Insurance coverage for your employees

The majority of group benefits packages include some form of group life insurance coverage. This benefit is usually provided at little or no additional cost to employees and often allows them to cover their spouses and children as well.

Group life policy usually provides basic but necessary life insurance coverage, and the coverage is lost if a member leaves the company. If that is the case, the departing employees are given the option to convert their coverage to an individual life insurance policy.

The maximum amount of the benefit is determined by the size of the group. There are two types of maximums:

• Non-evidence maximum
• Overall maximum

The non-evidence maximum is the amount of insurance the provider will cover without proof of good health. The larger the size of the group, the larger the non-evidence limit will be. If a group requires a higher limit, each eligible employee will be required to provide proof of good health. The overall maximum is the maximum amount of insurance the insurance company will cover.

Table of Contents

What is a Group Life Insurance policy?

What are the typical Group Life Insurance benefits?

Why should I purchase Life Insurance for my employees?

Where can I get these plans?