Life insurance benefits for your company from the nations leading insurers.
Group Life insurance can help you ensure that your employee’s loved ones are protected financially in the event that their income ends upon an untimely death. Group Life Insurance can help pay for funeral costs, debt, ensure continuity of a family business, finance the children’s education, protect partners, pay expenses, and give your employee’s family peace of mind after a tragic loss. Often, a combination of Term and Whole Life Insurance will provide the right solution for your employees.
Get to know your Term & Whole Life Insurance options.
Your employees’ own personal financial goals are individual and unique. There are two types of life insurance—temporary or Term Life Insurance and permanent or Whole Life insurance.
Term insurance only provides a death benefit, paid out upon the death of the insured named on the policy and there is a fixed period of time when the premium is level, and at a specifically stated time, the policy terminates. Term Life Insurance is purely a means of protection against risk.
Whole Life Insurance is often used as an investment strategy. Whole life policies have a living benefit, with a cash amount that grows tax-deferred. You will not pay taxes on your gains each year. Whole Life Insurance policies have options and offer riders such as accelerated benefits riders, which allow someone who has a terminal illness to receive as much as two-thirds of the benefits while still alive. Whole life has a level premium and payouts in the form of dividends. Dividends can be used to reduce the premium, or they can be used to build the cash value of the policy as well as the face amount. Your insurance carrier’s financial results, investment performance or experience, including mortality rates, gains and losses, and expenses can all affect your policy’s cash value, while the face value is simply the benefit amount that will be payable upon maturity, usually attained at age 100, or death of the insured. Your employees can borrow from the cash value of the policy with traditionally low rates and enjoy no restrictions or terms on a loan as you would borrowing from other financial institutions or banks.