Employee Group Life Insurance
Group Life Insurance provides insurance coverage at affordable group rates. Coverage is typically a multiple of the employee’s base pay, or total direct compensation (salary plus bonus/commission).
Dependents’ Life Insurance
Basic dependents’ life insurance is typically a set amount such as $10,000 for the spouse and $5,000 for each child.
Optional Life Insurance
Some insurance companies provide optional life insurance plans for the employee and/or spouse. Premiums are at group rates, and depend on variables such as the insured’s age and gender.
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