I’ve talked with thousands of employees over the years about their beneficiaries. Many have some basic questions and others aren’t quite sure who to name as their beneficiary. In this article, I want to answer some of the questions I’ve gotten from employees over the years and talk about what you need to consider when […]
3 Reasons to Buy Life Insurance for Children (or Grandchildren)
During enrollments, employees are given the opportunity to buy group term and sometimes whole life insurance for their children and grandchildren. There are a lot of different opinions out there about whether you should buy life insurance for children or not. I thought I’d spend some time talking about three reasons you should buy life […]
Group Life Insurance Conversion and Portability Explained
As simple as some insurance terminology seems, it’s easy to get confused about what terms actually mean in the whole grand scheme of things. One area that employers and employees often get confused about are with the words we use to describe what happens to their life insurance when they leave employment. Those words are […]
How Does Basic Group Term Life Insurance Work?
Basic group term life insurance is a fringe benefit that employers provide to their employees. It’s an amount of life insurance that employees get just for being an employee of the company. It covers all eligible employees under a group certificate owned by the employer that outlines what the life insurance coverage is and how […]
The Definitive Guide to Life Insurance
RESOURCE: This guide is a part of my larger guide called The Definitive Guide to Workplace Benefits. Be sure to check it out. This is my definitive guide to life insurance. I wrote this guide because a lot of people tell me they don’t understand how life insurance works. I’ve done my best to cover […]
8 Problems with Group Term Life Insurance
Group term life insurance is one of the most common employee benefits. It’s a benefit that every employee should definitely enroll in. The reason is because it can be one of the most important benefits their family would receive if they die while they have it. However, there are some common problems with group life […]
What’s the Difference Between Term and Whole Life Insurance?
When I talk with employees about their life insurance, one of the most common questions I get is what is the difference between term and whole life insurance? Even when people know the difference between the two, they sometimes get the names of the policies backward. They might call term life, whole life by mistake […]
What are Voluntary Benefits?
You might think of voluntary benefits as insurance benefit plans that employees can purchase “voluntarily” through their employer if they decide they want to enroll in them. While technically this is true, it also implies that some insurance benefits are required to be purchased by the employee. But this is not the case. Employees are not required to buy […]