This type of insurance helps the survivors of an employee in the event of an untimely death.  A benefit is paid to the beneficiaries which generally helps with maintaining a standard of living, funding a child's education, or supplementing retirement income.

Basic Life

This type of group life insurance is owned by the employer and is offered to a group of employees. 

Although the benefit seems simple enough, there are several variables in plan design to be considered including who pays the premiums, and whether or not the benefits will be taxable.

An employer can provide up to $50,000 in life insurance with the premiums fully tax deductible to the business, and with no tax impact to the employee or beneficiaries.

Typical plan designs are a flat dollar amount or a multiple of a covered employee's salary up to a specific maximum.  Plans can be designed to designate different classes of employees with different levels of coverage.

We can help you design and implement this benefit without running into any caveats that are not advantageous to you and your employees.

Voluntary Life

Voluntary life insurance, unlike basic life insurance, is an optional benefit that employees can elect on a payroll deducted basis.

A typical plan design provides employees the option to purchase coverage in increments of $10,000 or in multiples of their salary.

One consideration when looking into this coverage is that rates for voluntary life are typically 'age-banded.'   This means that employees are grouped into age brackets in increments of five years.  The rates increase as employees age.

We can help you find the best voluntary life coverage at the most competitive rate, and help you decide if the coverage compliments your new or existing benefits plan.