You probably have heard that having life insurance is a good thing to have, but it isn’t always affordable or you may not have enough coverage in Bartlesville, Broken Arrow, Grove, Muskogee, Oklahoma City, Tulsa, and the surrounding areas. It’s times like these that the option of group life insurance is welcome, and if your organization is looking to provide this for your employees you need to give a call to Reliant Insurance. We can shop the market of many different insurance companies to help find the best solution so you can offer group life insurance as a nice employee benefit. Call us today to learn more.
Some Requirements for Group Life Insurance
When looking at the different options for group life insurance, some of the policies may come with various stipulations. One of those stipulations may be that before people join they need to pass a probationary period before they can sign on to the group life insurance policy. This helps to keep the necessary paperwork to a minimum in case some people end up leaving shortly after starting. Coverage is also only normally as long as the employee is part of the group. Once they leave, either through resignation or firing, the coverage will end immediately.
Things to Keep in Mind With Group Life Insurance
One thing that organizations like about offering group life insurance policies for their employees is that the cost to provide this benefit is usually quite low, so many organizations opt to cover the full cost of offering group life insurance. And even if an organization opts to only cover a portion of the bill, the amount that the employees need to pay is quite small and manageable.
Typical group life insurance doesn’t always offer as much coverage as people might like. Some policies allow for the employees to purchase more coverage if they want. For example, the normal group life insurance policy might only offer $50,000 of coverage. An employee may want to increase that by the same amount, and there is an associated cost increase to do so. Knowing what you would like to be able to offer to your employees will help your Reliant Insurance agent get the best policy from the right insurance company.
Today offering a group life insurance policy as part of the benefits package you offer employees in Bartlesville, Broken Arrow, Grove, Muskogee, Oklahoma City, Tulsa, and the surrounding areas has become the norm, and our team at Reliant Insurance can help you find the right solution for your organization.