Group Term Life Insurance
An attractive and inexpensive benefit for you and your employees.
Group Term Life Insurance is a popular benefit among business owners and their employees. That’s primarily because this coverage is easy to explain, easy to understand, easy to administer, and relatively inexpensive, especially for companies with younger employees.
What is Group Term Life Insurance?
How Does It Work?
Under one of the most common group policy arrangements, each member of the group receives a life insurance benefit equal to a multiple of salary. Example: At 1.5 times salary, workers earning $30,000 a year receive life insurance coverage equal to $45,000. Premiums are deductible for the business, and proceeds are received by the insured’s beneficiaries income tax-free.*
Needs Group Term Life Insurance?
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