Group Life Insurance
Group life insurance can offer your employees comfort in knowing their loved ones will be looked after should they pass away suddenly or unexpectedly.
Your business will manage the group life insurance policy on behalf of your eligible employees; however, your employees will designate their beneficiaries.
The cost of providing group life insurance is dependent on the risk level of your group of employees as a whole.
When determining a group life insurance premium, an insurer will consider factors such as:
- The ratio of female and male employees (women live longer than men on average)
- The age of your employees (older individuals present a bigger risk)
- The type of work your employees engage in (some roles are riskier than others)
Our expert group benefit brokers will help your business manage a group life insurance policy and define the death benefit.