Attracting and retaining great employees starts with offering different benefits, including life insurance. A group policy is just one option that can assist your employees in creating a sound financial plan for their families. Each employee’s needs will differ depending on his or her particular situation. Choosing to add this level of protection shows your team that you care about what is important to them. At Executive Planning Group, we understand that your most important assets go home each night. We can help give your employees the additional peace of mind they are looking for.
Ways to Offer Coverage to Your Team
Depending on your company’s budget, you can offer group life insurance in a couple of ways:
- Term Policy: Give your employees guaranteed policies not based on answering medical questions when you offer group term coverage. You can pay for the primary level with the option of employees picking up additional levels of coverage. You may be able to give your part-time employees the same opportunity as well.
- Voluntary Group Life: In addition to base levels, voluntary group life provides your team the chance to purchase additional levels of coverage not provided by you. They may have to answer medical questions.
Company Costs for Group Life Insurance
There are a variety of ways your company’s requirements and premiums may be assessed. For example, the price is based on company size, the average age of your team members, ratio of males vs. females, and the industry you are in. Bear in mind that if you have an existing policy in place, past claims may affect your cost.
Experienced Advice to Help Your Employees Choose the Right Coverage
It is good practice to review your business’s group policies regularly, especially when you experience growth or downsizing. A broker can help you provide benefits at a price you can afford and also help your employees choose the right options for their specific needs. Here are two commonly asked questions and their answers to support your team:
- What do they really need? Each person’s situation is different. In other words, a one-size-fits-all approach will not work. We help them look at their near-term and long-term commitments, such as mortgages, supporting adult children, or kids heading to college.
- What do they already have in place? Do they have existing plans? They should look at employer-provided coverage as a supplement to their personal life policies and other forms of benefits their families may be entitled to.
Work with an Experienced Mississippi Brokerage Firm
Keep your talented employees from being tempted by the competition. Do this by providing attractive benefits along with the compensation they are looking for. The professionals at the Executive Planning Group (EPG) are here to help you make the best choice for your employees. We take the time to sit down with you and listen to what your business needs. Then we work to find you the best rates and coverage for your budget. Discover the value of our services today.
Give us a call at 601-982-3000 or request a quote online for group life insurance in Jackson, MS.
Disclaimer– Securities Offered Through Valmark Securities, Inc. Investment Advisory Services Offered Through Valmark Advisers, Inc.
Executive Planning Group is a separate entity from Valmark Securities, Inc. and Valmark Advisers, Inc.