The advantages of group life insurance

Life insurance is a good way to make sure those who depend on you are financially protected if something unexpected happens.  As a business owner, offering group life insurance is an easy way to provide your employees a benefit they value and appreciate. In today’s competitive job market, it’s just one more way to attract and keep good employees, and it’s cost effective too.

Group life has two things going for it:

• It's easy to qualify for coverage. Unlike an individual life insurance policy, where you might be rejected, group life coverage is guaranteed and there are no medical questions. The insurer bases the premium on the risk of the group as a whole and considers such factors as the ratio of women to men, members' ages and the kind of work they perform.
• When offered as part of a basic benefits package, the coverage is often free to the employee, with higher levels of coverage available at group rates.