Group Life Insurance

Group life insurance is a common employee benefit which provides employees with a predetermined death benefit which pays out a lump sum of cash payable to the beneficiary of his/her choice, upon death. Many corporations provide a death benefit that is a function of an employee’s salary, ie. two times salary. This benefit serves as an excellent retention tool because employees understand that their families will be better provided for as long as they remain with their employer.

Life insurance is also one of the most widely utilized financial tools for providing executive benefits.