Business owners in today’s competitive job market recognize the importance of attracting and keeping good employees. Providing group term life insurance is an economical way for employers to provide a quality benefit that employees value and appreciate.
Regardless of the number of employees you have, Northside Insurance Services has a plan designed to cover your full-time workers. All of this can be accomplished through the convenience of one simplified billing statement.
Small Groups
(less than 10 employees) |
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Amount of coverage
$10,000 to $100,000 per life ($50,000 maximum for group with 2-5 employees). Coverage ceases at age 70, at which time the employee may convert coverage without evidence of insurability to any plan offered for group conversion.
Continuation of coverage
Upon termination of employment, the insured employee may continue coverage through an individual term policy without evidence of insurability for so long as the insured continues to pay premiums.
Waiver of premium
(Optional)
Insurance coverage continues with no further premium payments for a covered employee who becomes totally disabled prior to age 60. While the disability continues, the insurance remains in effect up to age 70 just as if premiums were being paid. (Disability must persist for more than six continuous months.)
Accidental Death Benefit
(Optional)
If the insured dies as the result of an accident, the insured's policy will pay an additional amount equal to the life insurance benefit.
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Large Groups
(10 or more employees) |
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Amount of coverage
$10,000 to $150,000 per life. This plan also includes a Waiver of Premium benefit that continues the insurance protection through age 65 with no further premium payments should a covered employee become totally disabled for more than twelve months.
Conversion
Upon termination of employment, a covered employee may convert all or part of their insurance coverage without evidence of insurability to any policy offered for group conversion.
Accidental Death and Dismemberment
(Optional)
If the benefit is included on your group contract, and an insured employee dies as a result of accident, the insured's policy will pay an additional amount equal to the life insurance benefit. In the event the employee loses a hand, foot or sight of an eye, the insured's policy will pay an amount equal to one-half the life insurance benefit for a single loss or the full benefit for any combination of multiple losses.
Dependant Coverage
(Optional)
If dependent coverage is included in the group life contract, covered employees can elect coverage for their eligible dependents.
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