Employer Group Life Insurance in Washington
“43% of Americans have no life insurance” – LIMRA
Group life insurance is ideal for employers is an easy affordable way to provide peace of mind for your employees.
Understanding Employer Group Life Insurance In Washington
Most employers offer group life insurance to their employees because it’s inexpensive. An employer can offer a basic $25,000 term life policy for a couple of dollars per employee.
Employer group life insurance plans typically have a Guaranteed Issue amount where there is no health questionnaire to qualify for the plan.
Your employees will need to list a beneficiary, and they can change beneficiaries at any point. Normally employers offer a basic term group life insurance plan and allow the employee to purchase more coverage voluntarily. This additional premium would be automatically deducted from their paycheck. They may also need to undergo a medical exam.
For more information, consult your employer group life insurance provider.