An inexpensive employee benefits that is extremely well received by employees. Often, Group Term Life Insurance provided at the workplace is the only Life Insurance an employee might have. This protection can be more valuable to an employee and their family than one would ever imagine.
Accidental Death and Dismemberment (AD&D) provides an additional benefit payment should an employee die, or become seriously injured/dismembered as the result of an accident.
A key feature of Group Term Life and AD&D is the coverage is Guaranteed Issue up to certain limits. All employees are accepted under the plan and no medical questions are asked.
Many carriers offer special riders and coverage enhancements that provide beneficiaries with services such as Financial Counseling, Interest—bearing checking accounts, or additional benefit payments for taking specified precautions should a claim be paid.
Supplemental/Employee paid Life Insurance is also available for those employees that want to purchase more coverage. You can read more about this under Voluntary Benefits.
Market Trends:
- All Group Life and AD&D plans are not the same. The are so many benefit enhancements currently available, that a plan in place for over 18 months should be reviewed for plan design as well as price.
- The Group Term Life market is very competitive at the current time. Adding a plan with better benefits does necessarily mean paying a higher price. Over the past 12-18 months, we have been extremely successful in providing our clients with superior plans, while lowering premiums by 10 to 15% on average.
- Rate Guarantees are also improving. As 1999 came to a close, we were very happy to provide many of our clients with 3-year rate guarantees from several of our best carriers.
What Can The Guard Group Offer your Company?
As with any other Employee Benefit, we review the plan design that all of the top Group Term Life carriers have to offer our clients until we identify the program that best fits your needs and your budget. We provide competitive quotes from at least 10 highly rated Insurance Companies, so our clients can feel confident that we are bringing the best of the Group Term Life market to them.
Securities and Investment Advisory Services offered through Allegheny Investments, Ltd., member FINRA/SIPC. Stone Quarry Crossing, 811 Camp Horne Road, Suite 100, Pittsburgh, PA 15237 (412) 367-3880. Neil Merrell, Allegheny Investments Registered Representative. Allegheny Investments, Ltd. is not an affilitate of The Guard Group.
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