What is Employee Life Insurance insurance ?
Employee life insurance is a group life insurance policy that provides a death benefit to an employee's designated beneficiaries in the event of their unexpected death, offering financial security to the employee's family
There are generally two types of employee life insurance:
- Basic Employee Life Insurance: This is the most common type of employee life insurance and is typically offered by employers as part of their benefits package. It provides a fixed death benefit to an employee's designated beneficiaries.
- Supplemental Employee Life Insurance: This type of coverage allows employees to purchase additional life insurance coverage beyond the basic amount offered by their employer. It typically requires the employee to pay a higher premium for the increased coverage amount.
What does it cover ?
Death benefitA specified amount of money that is paid out to the beneficiaries of an employee in the event of their unexpected death.
Additional benefitsEmployee life insurance may include additional benefits such as accidental death and dismemberment coverage, which pays out a benefit if the employee dies or loses a limb in an accident, or a terminal illness benefit, which pays out a portion of the death benefit if the employee is diagnosed with a terminal illness.
Why Do You Need It ?
We need employee life insurance to provide financial protection to the families of employees in case of their unexpected death, offering peace of mind to both employees and their loved ones.
What sets MIEGI apart:
- Hands on knowledge with over 20 years of experience.
- Licensed with multiple carriers to ensure the best coverage at the best prices.
- Dedicated team committed to providing excellent and ongoing customer service.
- Personalized and customized affordable solutions.
- Outstanding customer satisfaction with 5 stars on google reviews .
- Simplified process incorporates cutting-edge technologies.
- Offices in multiple locations.