Group Life Insurance
Most employee benefit packages feature Group Life Insurance as an integral part of attracting quality employees. Your employees will appreciate the value of life insurance coverage and the added security it provides to their families.
And that will make them happier. The belief that a happy employee is a better employee is not anecdotal. A 2015 study conducted in Britain by the Social Market Foundation and the University of Warwick’s Centre for Competitive Advantage in the Global Economy found concrete evidence that happier employees are more productive in the workplace. The experiment showed productivity increased by an average of 12% when employees were happy.
Security is a major component of employee happiness. As an employer, there are many ways in which you can design and customize a Massachusetts Group Life Insurance plan to instill that sense of security.
Some of your options include Voluntary Life insurance, Supplemental Life coverage, Accidental Death and Dismemberment policies, and Dependent Life insurance. You should know that, in Massachusetts, the Group Life Insurance premium is typically considered a business deduction. As such, it is a stand-alone contract that is almost always less expensive than the life coverage provided with medical /health insurance.
Group Life Insurance is typically offered as part of your overall employee benefits package. It covers an entire group of people and, unlike individual life insurance, policies, is not based on an individual’s general health or lifestyle habits. Employees are grouped together and rates are based on the risk of the group as a whole. This is an obvious benefit to your employees as the coverage costs are usually much less than if the employee purchased an individual policy.
Contact us today. We know what you need and can craft a policy you can afford so that your employees stay happy and productive.