Group Life Insurance, explained.
Help your team protect the people who depend on them.
Group Life Insurance
Group life insurance provides life coverage to eligible employees through an employer or organization. The employer may pay for basic coverage and employees may be able to purchase more. If an insured employee dies while covered, the benefit is paid to their designated beneficiaries. We help you compare benefits that fit your team and your budget.
Inside a Group Life policy.
Is this for you?
Plain language answers.
Many plans offer a limited amount of coverage without individual medical evidence when enrollment rules are met. Larger amounts or late enrollment may require evidence of insurability. The limits vary by carrier and plan.
Coverage may end when employment or eligibility ends. Some plans offer portability or conversion within a limited time. Costs and benefits can change, so employees should review those options before their coverage ends.
Not always. The benefit may be smaller than a family needs and can depend on continued employment. An individual policy can provide separate protection that does not depend on the group plan.
Coverage, eligibility and enrollment requirements vary by carrier and state. The cost of employer provided group term life coverage above $50,000 generally creates taxable income for the employee under IRS rules. Exceptions and special rules may apply. Your payroll or tax adviser can confirm the treatment of your plan.
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