What Workers Need to Know About Group Life Insurance

| posted in Blog

Voluntary group life insurance is offered to employees as an optional benefit, and often employers will pay the small premium as an employee retention tool and provide workers some peace of mind for their families. There are various avenues for funding these group plans and different underwriting criteria that can either reduce or increase the premium amounts. The employer may cover the premium directly, or employees may share in the premium burden through payroll deductions after tax. In most cases, life insurance face amounts will vary from policy to policy and will usually be based in part on each employee’s…
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