Why Employees Need Life Insurance
Life insurance can help relieve financial strain for families and beneficiaries after an employee’s death. Payouts can range from a flat dollar amount to multiples of an employee’s salary (e.g., 3x the salary). The Hartford's Life insurance also provides other services to an employee and their family, like will preparation, funeral planning, travel assistance and more.
Despite the importance of this protection, less than a third of consumers say they are “very” or “extremely” knowledgeable about Life insurance.1 And 44% of Millennials overestimate the annual cost of this benefit.2
Life insurance is a key element of financial security. Among insureds with financial dependents, 68% say they feel secure compared with only 47% of non-insureds.2 Offering these benefits can help empower your employees to protect what matters most, in the moments when it’s most needed.
What Life Insurance Covers
Our Term Life insurance offers more than just death benefits. The following options are also available:
- Living Benefit Option (Accelerated Death Benefit)
- Accidental Death & Dismemberment (AD&D) Rider
- Disability Waiver of Premium
- Portability
- Conversion
Life Insurance Is Flexible
We can help employers choose the Life insurance plan that best suits their employees’ needs, including:
- Employee coverage (face) amounts of $25K to $250K in increments of $25K, with no salary multiplier*
- Spouse coverage amount up to 100% of the employee amount
- Child coverage amount up to $15K (standard is $10K)
- Annual buy-up option without Evidence of Insurability (EOI)
- Guaranteed issue amounts based on group size
Get the facts about Voluntary Life plans from The Hartford’s Employee Choice Benefits.
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