Life Insurance
Their
are many types of life insurance to fit your employees and their
dependents needs and circumstance. The following are some of the
basic types of life insurance available.
Term
Insurance - The simplest form of insurance. The benefit amount is generally
a flat amount but my be based on an employee's salary amount. If
an employee or dependent should die, the applicable beneficiary receives
the value of the policy. There is no investment component.
Whole
Life -
Similar to term, but coverages purchased to cover an employee's "whole
life". Premiums remain level throughout the life of the policy,
and the company invests at least a portion of the premiums. Some
firms share investment proceeds with policyholders in the form of
a dividend. Many companies will offer "a relatively low guaranteed
rate of return," but in reality pay at a rate in excess of the
guarantee. |
