Group Life Insurance is a type of life insurance that provides coverage to a group of individuals, typically employees of a company or members of an organization. In group life insurance, the policyholder is the employer or organization, and the insured individuals are the employees or members.
Group life insurance policies offer a set amount of coverage for each individual insured under the policy, and the premium for the policy is paid for by the employer or organization. In the event of the death of an insured individual, the designated beneficiary receives a death benefit pay-out from the insurance company.
Some policies may also offer the option for employees to purchase additional coverage, called supplemental coverage, at an additional cost.
Group life insurance policies can be a valuable benefit for employees, providing financial security for their families in the event of their death. For employers, offering group life insurance can be an attractive benefit that helps to attract and retain employees.
Ensure the financial well-being of your employees and their families with our comprehensive group life insurance policy, which offers affordable and customizable coverage. Our policy provides protection and peace of mind to both employers and employees and can be tailored to meet the specific needs of your organization.