Life insurance can give your employees peace of mind and help them provide for their loved ones after they’re gone. There are two major types of life insurance offered: Term Life and Whole life. Each work to fill a specific need and can be selected based on what the employee wants their insurance to do for them. Term Life Insurance offers a predictable way to provide piece of mind for the employee and their family. It’s economical and can cover large needs at lower costs and can help protect loved ones from unpaid debt, secure children’s education and insure financial stability. Whole Life Insurance offers a lifelong protection for the employee and those who are dependents.
Life insurance can help an employee’s family with things like:
- Paying medical and funeral bills
- Replacing lost income
- Paying off debts
- Protecting retirement plans
- Funding college expenses