Life Insurance Benefits For Employees

Employees may elect coverage amounts in increments of $10,000 up to eight (8) times your basic annual earnings, not to exceed $750,000 or eight times their basic annual earnings whichever is less.

Life insurance benefits for employees. The employee basic life insurance plan provides employee life insurance at a reasonable group premium rate and a portion of your premium is paid by your employer. Life insurance coverages and prevea health’s annual open enrollment during prevea health’s annual open enrollment period, employees may be able to increase existing voluntary life insurance coverage. Supplemental and dependent coverage is available at group rates.

Especially employees with families like the security of the safety net that life insurance provides. Basic life includes an additional multiple of your salary for accidental death. Each plan provides different coverage level options and some of the plans provide benefits in addition to death benefits.

All forms should be emailed to dhr benefits, or mailed to the address noted at the bottom of this page. Dependent on the level of coverage requested, evidence of insurability may be required. $15,000 term insurance policy, $15,000 seat belt incentive accidental death & dismemberment insurance:

Employees are automatically enrolled at the time of hire and must provide at least one beneficiary. Employees enrolled in the employer provided group life insurance plan may apply for supplemental coverage at any time. $15,000 ad&d clause coverage is underwritten by securian.

For employees of a certain age or in poor health, a group life insurance policy could be a saving grace, giving their family valuable financial support that otherwise might not be available to them. And if no primary beneficiary survives you, then to your contingent beneficiary(s); For employees hired before 07/2016 who did not enroll in life insurance, you may still apply for coverage by submitting the life insurance application form along with the evidence of insurability form (see forms section below).

If you only want to offer life insurance as a special benefit to a few key employees, you won't be able to deduct the premiums for federal tax purposes, unless. The two plans of life insurance available, along with the corresponding amounts of dependent life insurance offered under each plan, are noted below. If you die, a distribution of your benefits payable on account of your death will be paid to your primary beneficiary(s);