Group Life Insurance

Tri-State Insurance Agency: Helping Employees Plan for the Future with Group Life Insurance

Group Life insurance allows you as an employer to provide quality coverage at affordable rates. It’s also an effective way to build up a complete menu of employee benefits. Group life benefits can be made up of one or more policy options, including group term life insurance and group whole life insurance. Our Tri-State Insurance Agency professionals can go through each option with you in detail.

Group term life insurance is a popular choice as it offers high levels of insurance for a specified amount of time at fairly low prices. It often appeals to younger employees who want to guard dependents against income losses that would be suffered in the event of the employee’s premature death. A group whole life, or permanent life, insurance policy covers a longer period of time, usually far into the insured’s old age. It typically builds cash value the longer it is held and paid and often can be used as collateral to borrow against.

Your role as employer.

As an employer, you would purchase a group master life insurance policy then enroll participants under that group plan. Employees are not denied coverage because of a medical condition as they can be with individual life insurance applications. Although an employee can take their insurance with them if they leave your company, they normally must convert it to an individual policy (with some restrictions) and pay the costs themselves. Again, we will go though the specific details with you.

Add group life insurance as part of your employee benefits program.

Tri-State Insurance Agency provides a comprehensive business insurance portfolio, including employee benefits, for companies throughout Pennsylvania, northern New Jersey and New York. Give our professionals a call toll-free at 888.990.0526, email us or fill out and send the form on this page for a free consultation and quote.