Providing your employees with the peace of mind that comes from life insurance coverage is one of the best benefits you can provide as an employer. According to a study conducted by LIMRA, four in ten small firms (under 100 employees) offer group life insurance. That number increases dramatically as the size of the company increases. In fact, the LIMRA study found that group life insurance was the third most prevalent benefit offered in companies with 10 or more employees.

Most companies offer basic group life insurance in which the employer pays some or all of the cost of coverage. Supplemental life insurance, additional insurance coverage that can be purchased by the employee, is also a popular benefit option.

Magnate Benefits can work with you to design a group life insurance plan that fits your needs and provides a quality benefit to your employees.

Benefit plans may include:

• Flexible schedules and maximums
• Benefit amounts based upon an employee's earnings
• Accidental death and dismemberment coverage
• Conversion options
• Sponsored Long-Term Care Insurance
• The most effective way to attract and retain quality employees is to offer a comprehensive benefit package. Common benefits include health insurance, life insurance, disability income insurance and retirement and savings plans. However, these insurance benefits may not provide adequate coverage for employees or their families should they require long-term care services.