Group Life Insurance
Life insurance provides the security of knowing our families will be financially protected when we are not there, yet many of us remain uninsured. According to LIMRA International, over 68M Americans have no life insurance. Group life insurance offers an affordable way for employees to provide added protection to their employees’ families with the convenience of payroll deduction. We offer basic and voluntary life insurance, providing employers with an opportunity to offer a larger range of benefit options.
Waiver of premium
If an employee becomes disabled prior to reaching age 60, coverage continues while that person is disabled, and ceases when the disability ends, or when the insured reaches normal Social Security retirement age.
If an individual should have part of all of his or her coverage terminated, the individual may apply to convert his or her insurance to an individual policy, subject to the terms of the group policy. If applied for within 31 days of termination, no evidence of insurability is required.
If employees leave their jobs before normal retirement age, they can continue their life coverage. Portability is standard for voluntary plans and optional for basic plans. It is available for both employees and their dependents. Benefits levels may vary and are based on qualifying events.