Life Insurance Advantages

Not only will your company benefit in having a better chance to retain employees with life insurance policies, but there are other pluses on both sides of the table when you buy policies from a life insurance company.

 Advantages for the Employer:

  • Federal income-tax deductible premiums.
  • Desirable fringe benefit to pitch to new employees.
  • Decreased turnover, saving the company money in hiring and training expenses.
  • Contributes to employee security, loyalty, and better morale.
  • Valuable life insurance protection offer at a minimal group rate.
Advantages for the Employee:
  • Valuable life insurance protection offered at a low group rates.
  • Right to select and transfer beneficiaries at any time.
  • Waiver of Premium Disability Benefit rider is available at no additional expense.
  • The employer usually pays a portion or all of the cost.
  • You are not required to write checks to pay the premiums. If you contribute to the cost, it is generally deducted from your pay.
When you sit down to review life insurance options for your employees, analyze several areas. They include:
  • Undertake an analysis of present participation and coverage levels to decide the extent to which employees are underinsured;
  • Offer a comprehensive program that features both term and permanent coverage options.
  • Be sure you understand the key demographic differences among the workforce, and then address them as part of any and all educational and communication outreach programs.
  • Remind employees that some life events could lead to the need to re-evaluate coverage levels.
  • Offer access to decision-support tools and educational materials (including online income-assessment calculators and tutorials).



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