Group life insurance is an affordable benefit employers can offer to their employees. Group life insurance is typically paid by the employer, and the average premium is only $7.35 per month. The most common life insurance benefit for employees is $1,500. Group life insurance is a popular benefit that most employees come to expect from their employer. NIBC can help you select the best group life insurance policy for your employees through our trusted group of insurance providers.
Voluntary group life insurance can also be offered to employees and their dependents and can be paid through payroll deductions. Generally, this type of life insurance can be offered without any type of medical underwriting and employees do not have to undergo any medical exams or answer medical questions. This is a great option for employees who want to increase their life insurance, especially those with underlying health conditions. Many voluntary life insurance policies can be carried with them if they leave your company.