Helping employers protect what matters most.
Let us improve your risk profile, develop solutions that fit your operation.
Group Life Insurance
Protecting our loved ones is why most of us look to purchase Life insurance, which is why companies are increasingly offering group life insurance to help employees get the peace of mind they need should something happen to them. Group Life insurance is an important aspect of your employee benefits package, as increasingly more employees rely on it to provide financial security for their families.
At Daniels Insurance Agency, we can help you design a Group Life insurance plan to meet the coverage needs of your employees and their families. Group Life plans allow the employer to buy a master policy and then issue certificates of participation in the plan. Although each employee is underwritten as part of the employer’s group and no one is denied coverage based on a medical condition, an employee typically has the right to keep their coverage and convert it to an individual policy when they leave the employer (with some restrictions).
You can offer coverage as part of your Voluntary Benefits.
How Group Life Insurance Works
There are different types of Life insurance: A Group Term Life policy is often the most affordable option for employers. It provides a large amount of insurance for a set period in a worker’s life. It is usually designed to give dependents benefits in the event of the insured’s premature death. A Whole Life insurance policy is more expensive, but it lasts longer and builds cash value over the course of its existence—value that the employee can borrow against or use in other ways.
Plan designs can include:
- Basic, optional, and dependent Life insurance
- Optional features such as integrated waiver of premium, portability, conversion, and accelerated death benefits
- Accidental Death and Dismemberment insurance
We’ll help you examine all your options so you can evaluate what’s best for your company for group life Insurance.
Daniels Insurance Agency: Your Trusted Risk Advisor
Founded in 1937, Daniels Insurance Agency has three locations throughout New Mexico and is licensed in every state to serve not only our local region but also clients with a national footprint. As an Assurex Global partner, we are among the world’s most prominent independent agents and brokers. We’re also a member of the Independent Agents & Brokers of America, a national alliance of business owners and their employees who offer a wide range of insurance and financial services products.
Our staff of 42 employees throughout our three locations is ready to provide you with the white-glove service you should expect from your insurance consultant. In fact, you’ll always reach someone at Daniels Insurance Agency. You can depend on that.
Give us a call at 800-530 8885 to find out how we can work together.
