Why Does Life Insurance Belong in Every Benefits Package?
While health, dental, and disability coverage tend to get the most attention, life insurance is one of the most meaningful benefits you can offer your employees. It provides peace of mind, financial protection for loved ones, and is often one of the most affordable ways to enhance your benefits package.
What Is Group Life Insurance?
Employers typically offer group life insurance to employees – often at no cost or a reduced rate. It typically provides a basic benefit (e.g., 1x or 2x annual salary) and may include options for employees to purchase additional coverage for themselves, their spouses, or dependents.
Why Offer Life Insurance?
Financial Security. It provides income replacement and helps surviving family members pay for funeral costs, debt, and daily living expenses.
Employee Peace of Mind. Employees appreciate knowing their loved ones would be taken care of in the event of an unexpected tragedy.
Cost-Effective. Group life insurance is relatively inexpensive, especially when purchased as part of a bundled benefits plan.
Recruitment & Retention. Including life insurance makes your benefits package more competitive.
Employer Options
Employer-Paid Basic Life. The company covers a flat benefit amount or multiple of salary.
Voluntary Life Insurance. Employees can buy additional coverage through payroll deductions—often with guaranteed issue amounts.
Dependent Life Coverage. Optional coverage for spouses and children can be added to enhance the offering.
Key Considerations
Clearly explain which benefits the plan covers and which ones are optional.
Promote annual enrollment opportunities for guaranteed issue coverage.
Review beneficiary designations during onboarding and open enrollment.
Ensure your plan includes conversion or portability options for employees who leave the company.
Life insurance may not be a daily concern, but when employees need it, it’s invaluable. Including it in your benefits package is a simple yet powerful way to show employees you care about their future—and the people who depend on them.
To learn more, contact the Frost / Beck Insurance Agency. Call us at 419-592-4476, send an email to frost@frostins.com, or click here  to submit your request today! Alternatively, stop by and see us at one of our four convenient locations in Archbold, Napoleon, Holgate, or Whitehouse.
Coming next week, we will break down how vision and dental benefits support overall health and employee satisfaction.