Group life insurance for company workers

Alexandoy

VIP Contributor
Most big companies here have the group insurance for their workers that will handle the expenses for injuries and even loss of life. I like that kind of concern for the workers. However, I have learned that some companies are getting so frugal with the group insurance that the death benefit was very small. Maybe the package they availed of was the cheapest so they can save on the premium.

Fortunately for my wife their company is generous with the insurance benefit that now with the risk of covid the death benefit has been increased. I just hope that there will be no more deaths in their company so that business will continue to get better even in this pandemic era. With the group insurance companies can survive and it is a big help to the insurance industry as well. As per the news, the small businesses are also thinking of the insurance because of the threat of the covid virus.
 

Mataracy

VIP Contributor
It is a very good idea for a company to take care of their workers by given them life assurance in order to protect them or care for them should in case any thing bad happen to them.
We company don't use to take care of their workers despite without them you can not do the job by yourself and this is very bad.
When the workers is well taken care of they will be happy to work wholeheartedly for the company.
 

Briangsam

Active member
Group life insurance is a type of life insurance in which a single contract covers an entire group of people. Typically, the policy owner is an employer or an entity such as a labor organization, and the policy covers the employees or members of the group. Term insurance is the most common form of group life insurance. This is a great move from your wife's workplace. Hopefully no one's family gets to benefit from it.
 

Mandy96

Valued Contributor
I never knew that there is some part of life insurance set aside for company owners because this is a great initiative. It could extend the life span of the business as a whole because there will be no fear of bankruptcy as long as the policy plan is still valid
 
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