Group life insurance for a small business?

Posted in Group Life Insurance over 4 years ago, 1 reply

We have a small business that sells golf course passes to other businesses and we are looking to reduce turnover with our staff by adding more benefits. I wanted to find out how a group life insurance policy would work and how it is priced. Does every employee have to take a medical exam? How much coverage could we offer our employees? Finally would it be term life, whole, or something totally different?

There are 10 employees and ages range from 21 to 43.

Thanks for your help Ron.

submitted by Sara in Houston, TX

Group life insurance is priced by sex, age and amount of coverage on each individual. Usually there is no exams but a medical questionnaire is required. The amount of coverage might be a multiple of each employees income or a flat amount. The coverage is usually term insurance.

submitted by Ronald Belham in Philly @ September 05, 2008 - 03:25 PM

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