Group Life Insurance Benefits

Life Insurance can be offered as an employer paid benefit or on a pure voluntary basis. Voluntary plans allow the employee to purchase additional life insurance coverage through the convenience of payroll deductions. The plans provide guaranteed issue amounts (no health questions) and are completely portable.

Employee Advantages of Voluntary Life Insurance Benefits

Most employees have a need for additional life insurance protection above and beyond the basic group term insurance that employers provide. Where do these people turn? Many simply do not look for this additional coverage because they don’t know where to go, are confused by insurance, or are just intimidated to invite an insurance agent into their home.

Most people would agree that inviting a life insurance agent into their home is not on their top ten list of things to do. The fact is most people are uncomfortable with an agent coming into their home for fear they will be pressured. How do they find a good agent? Are they getting sound advice? Is the company and its products reputable? If this is a concern of yours contact a Broad Reach Benefits Team Member at 800.272.1144.

When the employer sponsors a voluntary life insurance program:

  • Employees feel comfortable that the employer has looked at the market and chosen a quality company and product.
  • Holding group meetings alleviates the fear of being pressured.
  • Employees have access to professional advice they most likely would not get on their own.