Life Insurance Lead Chandler, Arizona AZ

Reader’s Question:

I got 10 employees on my small home-office in Chandler, Arizona AZ. An insurance agent approach me and offered group life insurance for my employees. Will the size of my group affect my employeess premium rates?

Dave

Chandler, AZ

Group size would certainly affect the rate of your group’s life insurance in Chandler, Arizona AZ. Majority of the insurance companies with base rates for group life insurance consider some factors like size of the group, company claims history, gender and average age of the employees, salary of the employees (if salary-based plan), and type of occupation associated with the group (involves risk factors).

Companies who gives life insurance to there employees as part of there benefits is a good example and can boost the morale of its employees. Also it is a big advantage to the part of the employee, since they’re not going to undergo with the normal application process which most of the time will conduct very strict physical-medical exam. If an employee decides to quit his/her job, then the group life insurance can be easily converted into an individual policy.

As an employer you can start providing your employee an insurance equivalent to their one month salary. Other employer gives a 2 year or may be more to their equivalent salary. By leading your employees, you can encourage them to increase their coverage by paying minimum additional participation cost coming from their salary. Examples of additional coverage are accidental death, dismemberment insurance, coverage for dependents and family members.

Just check with the insurance company in Chandler, Arizona AZ first because most of the insurance providers don’t offer life insurance in a group less than 10.

See your insurance agent to get more information and other options.

Tags: group life insurance, life insurance, life insurance benefits, group life benefits