In order to retain hard-working, top-notch employees, it is important to offer a variety of benefits to help sweeten the pot and entice them to stay at your business. That is why offering group life insurance to your small business is a good idea. It’s not only a good supplement to existing individual life insurance, but it is also inexpensive way to provide additional benefits to your employees.
Voluntary life insurance is additional coverage paid for by the employee. Under this coverage, the employee will have the opportunity to add family members to their coverage.
When it comes to offering voluntary group life insurance plans, it is a good idea to research insurers who offer the features that you would like to provide. These may include portability, accelerated death benefits, or even a waiver of premium benefits.