Group Life Insurance
As a business owner, you know all too well how important it is to look after the employees in your company. Taking out Group Life Insurance is one way to do this.
Group Life Insurance is a type of insurance cover offered to a group by an employer, association or other organization. The cover provides a benefit to the beneficiaries if a covered individual dies during the covered period. This type of insurance is often a key component in employee benefit packages, offered to eligible employees at the time of hiring or during their course of employment.
In offering a Group Life Insurance policy to your employees you are providing them peace of mind that their family will cope financially in the event of their death. Furthermore, this type of cover benefits the business as a whole as it can protect against the expense of unpredictable long-term sick leave. The other benefits of offering Group Life Insurance Include:
- Increased happiness and motivation of employees
- Increased employee retention rates through attractive employee benefits
- Loyal employees and a strong reputation as a good employer
In securing a Group Life Insurance plan you are giving your employees the ability to carry out their role, safe in the knowledge that their family is protected. These policies are cost effective in what they offer and often come at a low cost to the business.