Group Life Insurance

Life Insurance is a contract between an insurance company and an insured individual that guarantees a specific sum of money to a designated beneficiary upon the death of the insured or to the insured if he or she lives beyond a certain age.

The main purpose of life insurance is to provide a measure of financial security for your family or your business after you die. Life insurance can also be a used as a supplemental investment vehicle for retirement or college funding. So, before purchasing a life insurance policy, you should consider your financial situation and the main goal you wish to acheive with your policy. Other consideratious include the standard of living you want to maintain for your dependents or survivors. For example, who will be responsible for your funeral costs and final medical bills? Would your family have to relocate? Will there be adequate funds for future or ongoing expenses such as daycare, mortgage payments and college?

It is a great idea to re-evaluate your life insurance policies annually or when you experience a major life event like marriage, divorce, the birth or adoption of a child, or purchase of a major item such as a house or business.

Life insurance is a basic part of group benefit plans. Our carriers offer a variety of plans and levels of coverage starting at $10,000 per employee. Plans based on a multiple of salary or employer classes are also available. Let us help you offer your employers the security of group term life insurance.

At Health Insurance Depot you can...