Group Life Insurance is an insurance policy that covers a whole group of people. Group Life Insurance is typically taken out by an employer or organisation and the cover extends to all employees or members of the group.
Group Life cover pays out a lump sum payment to the dependants/beneficiaries of an employee if the they die whilst covered by the policy. A lot more employers these days are offering Group Life Insurance as an added benefit to reward existing employees and attract new-starts.
Thinking About Group Life Assurance for your Team?
There are numerous benefits of being part of a Group Life Insurance Policy for both Employees and Employers such as:
• Employees are typically covered for a lump sum based on a multiple of salary, usually between 2 and 4 times their salaries.
• Each insured employee is entitled to choose their own beneficiaries.
• Each insured employee will have their cover remain in place until their employment ends or the specific term of insurance elapses.
• Cover extends to Company Directors and Partners also.
• Companies/Employers show that they care about their employees by offering them the option to avail of a Group Life Insurance Scheme.
Group Risk are here to Help
Group Risk can help you set up a Group Life Insurance Policy for you company. We can also examine any existing schemes you have in place. We are Independent Financial Brokers and our mission is to provide you with cover that is compliant, adequate for your needs and cost-effective.
Contact us today on 01-6601016 or email us at firstname.lastname@example.org.
IFC Advisors Limited T/As IFC Finance & T/As Group Risk is regulated by the Central Bank of Ireland.
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