Protect Your Team with Affordable Group Life Insurance

Benefit Design: Choose a flat amount (e.g., $25k–$50k) or a multiple of salary (1×–2×) up to the plan maximum.
Guaranteed Issue: Often available at initial enrollment—no medical questions required up to a set limit.
Age Reduction: Benefits may decrease at certain ages (e.g., 65 or 70); check your policy certificate.
Portability/Convertibility: Options may allow you to keep coverage after leaving the company; rules vary by carrier.
Common Riders: Accelerated death benefit and waiver of premium (subject to eligibility).

Employee Options – Choose coverage in set increments up to plan limits.
Evidence of Insurability (EOI) – Required for amounts above Guaranteed Issue or for late enrollment.
Dependent Life – Optional spouse and child coverage available within plan limits.
Portability/Convertibility – Maintain some or all coverage after employment ends (terms apply).
Rates – Usually age-based and payroll-deducted; review as employees age.

Key Details – Provides a lump sum for accidental death and scheduled benefits for specific losses (e.g., limb, vision).
Plan Options – Can mirror Basic Life coverage or be elected separately by employees.
Enhancements – May include benefits for seatbelt/airbag use, common carrier accidents, or paralysis, depending on the carrier.
Exclusions – Certain occupations or activities may be excluded; always review the certificate.
Funding – Coverage can be employer-paid, voluntary, or a combination based on plan design.

Key Details
Start with employer-paid basic life coverage (e.g., 1× salary or flat $25k–$50k). Offer voluntary or supplemental life so employees can purchase additional coverage via payroll.

What to Know About Group Life Insurance
Structure: Employer-paid basic life with optional voluntary buy-up for employees, spouses, and children.
Guaranteed Issue (GI): Coverage up to a set limit with no medical questions during initial eligibility or open enrollment; amounts above GI may require Evidence of Insurability (EOI).
Portability & Conversion: Employees leaving the company can often keep coverage (portable) or convert to an individual policy, usually within 31 days.
Reductions: Benefits may reduce at certain ages (e.g., 65/70). Check your plan certificate.
AD&D: Accidental Death & Dismemberment can be added for extra protection.
Taxes: Employer-paid basic life over $50,000 may create taxable imputed income for employees.
Eligibility & Waiting Periods: Full-time status and waiting periods may apply; participation minimums help maintain group rates.
Administration: Keep beneficiary designations current, provide plan documents, and follow compliance requirements where applicable.

Fast Next Steps
Determine your basic life formula (flat amount or salary multiple) and any classes or carve-outs.
Set GI amounts and note EOI requirements for late entrants or coverage increases.
Establish contributions (employer-paid basic and voluntary buy-up via payroll).
Outline portability/conversion processes and age reduction schedules for employee onboarding.

Key Details
Define employee groups (e.g., all staff, managers, executives) and set age-based benefit reductions. Use Guaranteed Issue during enrollment and track Evidence of Insurability (EOI) for late applicants.

What to Know About Group Life
Structure: Employer-paid basic life (flat amount or multiple of salary) with optional voluntary buy-up for employees and dependents.
Guaranteed Issue (GI): Coverage up to a set limit with no medical questions at enrollment; higher amounts may require EOI.
Portability & Conversion: Coverage can often be continued or converted to an individual policy after employment ends, typically within 31 days.
Benefit Reductions: Benefits may decrease at certain ages; check your plan schedule.
AD&D: Accidental Death & Dismemberment can be included for extra protection.
Taxes: Employer-paid coverage over a set limit may have tax implications; confirm with a professional.
Eligibility & Waiting Periods: Full-time status and minimum participation requirements may apply.
Administration: Maintain current beneficiary designations, provide plan documents, and follow compliance requirements.

Next Steps
Decide on the basic life formula and any employee classes or carve-outs.
Set GI limits and note EOI requirements for late entrants or higher coverage.
Determine contributions (employer-paid basic; voluntary buy-up via payroll).
Communicate portability/conversion options and age reduction schedules during onboarding.

Key Details
Include spouse and child life coverage; track portability and conversion periods (usually 31 days).
Add AD&D and waiver of premium riders for additional protection.

What to Know About Group Life Insurance
Structure: Employer-paid basic life (often a flat amount or 1× salary) with optional voluntary buy-up for employees, spouses, and children.
Guaranteed Issue (GI): Coverage up to a limit without medical questions during initial eligibility or open enrollment; higher amounts may require Evidence of Insurability (EOI).
Portability & Conversion: Employees leaving the company can often maintain coverage (portable) or convert to an individual policy, typically within 31 days.
Reductions: Benefits may decrease at certain ages (e.g., 65/70); review the schedule in your plan documents.
AD&D: Accidental Death & Dismemberment coverage can be added for extra protection.
Taxes: Employer-paid life coverage over $50,000 may trigger taxable imputed income under current U.S. rules.
Eligibility & Waiting Periods: Full-time status and waiting periods may apply; participation minimums help maintain group rates.
Administration: Keep beneficiary designations current, provide plan documents, and follow regulatory/recordkeeping requirements.

Fast Next Steps
Determine your basic life coverage formula (flat amount or salary multiple) and employee classes/carve-outs.
Set GI amounts and note EOI requirements for late entrants or coverage increases.
Establish contributions (employer-paid basic coverage; voluntary buy-up via payroll deduction).
Outline portability/conversion procedures and age reduction schedules in employee materials.

Key Details
Take advantage of larger employee groups for better rates and higher Guaranteed Issue (GI) limits. Align coverage with company policies, association rules, and employer contributions.

What to Know About Group Life Insurance
Plan Structure: Employer-paid basic life (commonly 1× salary or a flat amount) with optional voluntary buy-up for employees, spouses, and children.
Guaranteed Issue (GI): Coverage up to a set limit without medical questions during initial eligibility or open enrollment; amounts above GI may require Evidence of Insurability (EOI).
Portability & Conversion: Coverage can often be maintained or converted to an individual policy if employment ends—usually within 31 days.
Age Reductions: Benefits may decrease at certain ages (e.g., 65/70); check your certificate for details.
AD&D Coverage: Accidental Death & Dismemberment can be added for extra protection.
Tax Considerations: Employer-paid basic life over $50,000 may create taxable imputed income for employees.
Eligibility & Waiting Periods: Full-time status and waiting periods may apply; participation minimums help secure group rates.
Administration: Keep beneficiary information updated, provide SPDs/certificates, and comply with recordkeeping requirements.

Fast Next Steps
Determine your basic life formula (flat amount or salary multiple) and employee classes or carve-outs.
Set GI amounts and understand EOI rules for late entrants or coverage increases.
Decide on contributions—employer-paid basic coverage and optional voluntary buy-up via payroll deduction.
Communicate portability/conversion options and age reduction schedules in onboarding materials.