It cannot be said enough how critical life insurance is for everyone on the planet and yet not everyone takes it as seriously. There are even some employees who will not accept group life insurance from their jobs. It is so essential and that is why many employers offer it to their employees as part of the benefits package. Group life insurance is the path to improving your financial independence and well being.
Employees should consider group life insurance if they want to protect themselves and their loved ones. There could be a case where something unexpected and unfortunate happens. This is where life insurance would come in and save the day. With life insurance, individuals would be better able to manage their expenses, and their auto payments, personal loan, and mortgages would continue to be paid.
What is Group Life Insurance?
This is life insurance that has a single contract, but it covers a whole group of people; making it so much more affordable to each individual. The owner of the policy of a large group is usually an employer. It could also be another entity like a labor union. Each member of the group is covered under the umbrella of that insurance policy. Once the employee is hired, the group life insurance is offered as part of the benefits package. It is a quite affordable package and every employee will end up paying far less so they don’t have to get an expensive life insurance policy outside of employment. Therefore, if an employee offers you group insurance, you should take it.
The Types of Insurance
Carpenter Insurance Group located in Kentucky offers employees affordable packages for their employees. Some of these insurance solutions include:
- Supplemental Life Insurance – added insurance for extra protection (employers do not pay for this)
- Basic Term Life Insurance – helps with family income in lieu of premature death
- Dependent Life Insurance – Added coverage for family members who are eligible
A master contract is prepared for the employer who maintains it as long as the policy runs. If you want to learn more about group life insurance, contact us at Carpenter Insurance Group in Kentucky and start protecting your life.