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Life insurance is one of the most common employer-provided benefits. It is especially popular with employees who have dependents and with older employees who may have difficulty getting reasonably priced life insurance elsewhere.
The issues that you would face if you were thinking of offering life insurance are much like those facing employers contemplating health insurance:
- deciding whom to cover
- deciding what type of coverage and how much coverage to offer
- finding vendors
- administering the plan
Life insurance as an employee benefit. Our discussion here focuses on life insurance as an employee benefit; for life insurance on yourself or other owners or key managers, see our discussion of life insurance in the context of personal financial planning.