Group Life

The Need

Group life is one of the cheapest forms of life insurance. It  typically only requires 2 people from a group to participate for an employer to offer the plan. Group Life usually is only term life insurance that works just like Individual Term Life.

With that said, I will shameless plagiarize my article on individual health starting now…

What would happen to your loved ones if you were to suddenly pass?

  • Will your kids be able to go college?
  • Will your spouse be able to pay the bills?
  • Will your family be able to live in their current home?

With the right amount of Life Insurance you can confidently answer yes to these questions.


How Much

Life Insurance is a promise to pay your beneficiary/beneficiaries a certain amount of money upon your death. The face value of the policy is the amount that will be paid to the beneficiaries upon death. Some things to consider when determining your policy’s face value are:

  • What is the lost income if you were to pass?
  • How many kids still need to go to college?
  • What are your major debts (home, auto, etc.)?

A great resource for impartially calculating your life insurance needs can be found at Life Happens .


The Options

  • Term Life – Term Life is typically the only option available to you for group health. In the event an employee leaves the company, he or she has the opportunity to convert the policy to a whole life policy, but that is usually not cost effective.


Contact Us

For a full illustrations of your policy options, Click Here to speak directly with an agent.

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