life And AD & D Insurance

Death isn’t something that Americans in general like to think about. However, it is important to take steps to ensure that our loved ones are provided for after we are gone. Group life insurance and AD & D (Accidental Death and Dismemberment) insurance provide financial protection for your employee’s beneficiaries should your employee pass away. For employees who work in industries where they are routinely exposed to potentially dangerous situations, life or AD & D insurance benefits can be an essential part of their compensation.

There are two main kinds of life insurance: term life insurance and permanent life insurance. While term life insurance provides insurance for a specified period of time only, permanent life insurance offers lifetime protection. Because term life insurance is limited to a defined time period, it is a much more affordable option. On the other hand, permanent life insurance is usually more flexible and easier to customize for your particular needs. Life insurance dividends can be used to make up for your employee’s lost income, pay off any lingering debt, finance their children’s educations and cover funeral expenses.

AD & D insurance pays a lump sum to your employee’s beneficiaries should your employee die in an accident or lose a body part as a result of an accident. This payment may be used in the same way as a life insurance payment. A “double indemnity” may occur if a person who has both life insurance and AD & D insurance dies because of an accident. In this case, both insurance benefits are paid to the beneficiaries. For businesses involved in construction, sciences, and other potentially dangerous fields, life and AD & D insurance are thoughtful and appreciated benefits to offer employees. Our experienced and qualified team of associates look forward to helping you find the life and AD & D insurance benefits plan that fits your company’s needs best.

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