GROUP LIFE INSURANCE
Life insurance helps your employees and their families stay financially protected and better prepared.

Group term life insurance provides a solid foundation for a comprehensive employee benefit program that is subsidized by the government in the form of valuable tax incentives to employers as well as employees.
Consider the employee benefits you offer. Do you count life insurance among them?
It’s a key benefit to help you attract and keep quality employees. When candidates are searching for a new job, benefits are a main differentiator, and prospective employees tend to consider a position’s benefits before they apply. That includes life insurance. Whether you cover the premium or offer employee-paid, voluntary life insurance, group rates make coverage through an employer an affordable option for employees. Including life insurance in your benefit package can make you stand out against organizations competing for the same candidates—and help you hold on to the good employees you’ve already hired.
Frequently asked questions
What Is Group Term Life Insurance?
What Are The Tax Benefits?
How Does It Work?
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It must provide a “general death benefit” of the type excludable from gross income.
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The employer must provide the coverage as compensation for services to employees whose membership in the group is based solely on age, marital status, length of service, job responsibilities or some other factor related to employment.
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The insurance coverage must be provided under either a master policy or a group of individual policies carried directly or indirectly by the employer.
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The amount of each employee’s coverage must be determined on some basis that precludes individual selection, such as compensation or years of service.
What Are The Advantages To The Employer?
What Are The Advantages To The Employee
Whi Is Eligible?
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it covers all full-time employees;
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the amount of coverage is determined either as a uniform percentage of compensation or under coverage brackets in which no bracket exceeds specific percentages designed to prevent discrimination
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any required evidence of insurability is determined only by a medical questionnaire and not a physical exam, and
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any other medical information voluntarily provided by the employee is not used to determine premium rates.
Other Requitements?
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To qualify for favorable tax treatment, the arrangement must provide a “general death benefit” of the type that is excludable from gross income.
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The employer must provide insurance coverage as compensation to employees whose membership in the group is based solely on age, marital status, length of service, job responsibilities or some other factor related to employment.
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The coverage must be provided under either a master policy or a group of individual policies carried directly or indirectly by the employer.
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Each employee’s coverage must be determined on an impartial basis (such as compensation or years of service) that prevents individual selection.
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If the group term arrangement fails to meet these tests, each employee’s share of the employer’s premiums is includible in his or her gross income.