Life Insurance
A group life insurance contract pays out a lump sum benefit in the event of the death of an employee while covered under the plan. The coverage amount is often based on a percentage of salary or a flat amount. Occasionally there will also be additional coverage available through an optional life program.

Dependent Life Insurance
Employee benefit programs often have separate coverage for spouses and dependent children, albeit with smaller amounts.

Accidental Death and Dismemberment Insurance (AD&D)
In the event of accidental death, this benefit pays out a separate and additional lump sum benefit. The benefit amount is often equal to life insurance. AD&D coverage also includes varying levels of benefits in cases where accidental injuries result in the loss or impairment of limbs or organs.

Group life and accident insurance is an important, but often, under-valued employee benefit. Coverage is simple to secure and cost-effective as a group. This benefit is in place with many companies and often only under financial scrutiny but there are a number of governance details that need to be reviewed and understood to make sure that coverage needs are met. We’re here to help make sure that it is structured properly for all of your employees.