Protection your employees may not be able to get on their own
By offering Group Life Insurance Plans as part of your benefit package, you strengthen your competitive offering in the labour market and communicate your concern for the welfare of your employees. You also provide your employees with assurances that their family will be taken care of should they die.
Group Life Insurance Plans are made available without medical proof of insurability, a fact an employee may appreciate if he or she has a condition, such as diabetes, that makes it difficult to obtain individual life insurance.
Stevenson & Hunt can provide group life benefits in a number of different configurations:
Employee Term Life: the Life Insurance benefit is most often based on a multiple of your employee’s earnings or if you want it can be flat amount. Benefits are payable tax-free to a selected beneficiary
Dependent Term Life: provides a lump sum payment to the your employee in the event of the death of a covered spouse or child
Optional Term Life: additional coverage available at group rates for employees and their spouses who provide medical evidence of insurability
Employee Accidental Death & Dismemberment benefits: the amount of Accidental Death & Dismemberment coverage is usually equal to the amount of Life Insurance for your employee. It provides your employee and/or their families with additional benefits should the employee die, lose a limb, become paralyzed, or experience loss of hearing, speech or sight as a result of an accident.
Optional Accidental Death & Dismemberment: Accidental Death & Dismemberment benefits for dependants that can be purchased by the employee at group rates.