Group Life Insurance
Group Life Insurance
Group Life Insurance
Provide employees and their families with workplace life insurance that complements your broader benefits program.
Group Life Insurance
Provide employees and their families with workplace life insurance that complements your broader benefits program.
Group Life Insurance
Provide employees and their families with workplace life insurance that complements your broader benefits program.
Financial Protection for Employees and Their Families
Group life insurance provides employees with valuable financial protection while helping employers offer a more complete benefits package. Global Advisers helps businesses evaluate group life insurance options based on workforce needs, benefit levels, employer contributions, and overall cost.
Coverage can provide a foundation of employer-paid protection while giving employees the opportunity to purchase additional insurance based on their individual needs.
Life Insurance at Work
Can Carry Real Weight.
Workplace life insurance can provide employees with a foundation of financial protection for the people who depend on them.
Why Consider Group Life Insurance?
Group life insurance can strengthen the benefits package while giving employees access to protection that may help their families replace income and manage financial obligations after a death.
Employer-sponsored life insurance can give employees an initial level of financial protection through the workplace.
Life insurance adds another form of financial protection to the compensation and benefits employees receive.
A plan may combine employer-paid basic coverage with optional employee-paid supplemental and dependent protection.
What Can a Group Life Benefit Include?
Group life plans can combine employer-paid protection with optional employee and family coverage. Available features vary by carrier and plan.
Workplace Life Insurance Matters to Employees.
Research shows that employees rely on workplace life insurance for financial protection and view it as an important part of their benefits.
say they have life insurance through their workplace.
Employer-sponsored coverage is a significant source of life insurance protection for working Americans.
count on workplace life insurance to help protect their loved ones.
The benefit can carry particular importance for employees supporting dependent children.
believe life insurance is an important workplace benefit.
LIMRA also reports that 61% of Gen Z workers want this benefit.
Having Coverage and Having Enough Coverage Are Not the Same Thing.
believe their workplace coverage provides enough protection.
or 1× salary
is typically a flat $20,000 benefit or one times salary.
say they would struggle financially within six months if a wage earner died.
are not fully aware that they have life insurance through their employer.
Smaller Employers Have an Opportunity to Differentiate.
Federal benefit data show a substantial gap in access to workplace life insurance between small and large employers.
have access to workplace life insurance.
have access to workplace life insurance.
for workers at both the smallest and largest employers measured by BLS.
Basic and Supplemental Life Insurance
Employers can structure group life insurance in several ways. We help businesses evaluate considerations including:
- Employer-paid basic life insurance, with benefits based on a fixed amount or a multiple of compensation
- Supplemental life insurance, allowing employees to elect additional coverage
- Spouse and dependent coverage, when available
- Accidental death and dismemberment coverage, when offered with the plan
- Guaranteed-issue coverage, where available and subject to applicable plan limits
- Portability and conversion provisions that may allow employees to continue certain coverage after leaving the employer
Plan features, eligibility requirements, coverage limits, underwriting provisions, and costs vary by insurer and employer group.
A Coordinated Benefits Approach
Life insurance should complement the employer’s broader benefits program. Global Advisers helps businesses compare available coverage and consider how life insurance works alongside Group Health Insurance, Disability Insurance, and other employee benefits.
For organizations seeking additional coverage for owners, executives, or other key employees, we can also evaluate Executive Benefits separately from the broader employee program.
Discuss Group Life Insurance Options
Whether you are establishing a group life benefit or reviewing existing coverage, Global Advisers can help you compare available options and determine an appropriate structure for your organization.
Insurance products and services are separate from investment advisory services. Insurance coverage, eligibility, premiums, benefits, underwriting requirements, and availability vary by insurer, employer group, and state. Global Advisers and/or its licensed insurance professionals may receive commissions or other compensation from insurance carriers in connection with insurance products or placements. Clients are not required to purchase insurance products through Global Advisers as a condition of receiving investment advisory services. Information regarding employee benefits is general in nature and is not intended as legal, tax, or accounting advice.
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