If your employer provides you with some basic group term life insurance, there’s a good chance you will have the option to buy additional group term life insurance. This option is called supplemental group term life insurance but it might also be called voluntary group term life insurance. Let’s look at 6 key features that […]
Are Your Group Insurance Rates Attained Age or Issue Age?
Most employees don’t realize how the rates work on the group insurance programs they sign up for. How these rates are structured have a big impact on them down the road. There are two types of group insurance rates – attained age rates and issue age rates. In this article I want to walk you […]
Find Your Group Term Life Insurance Age Reduction Schedule
The life insurance age reduction schedule is a group term life insurance provision. It reduces the face amount of your group life insurance when you reach certain ages like 65 or 70. It’s not unusual for an employee to first learn about this reduction at the age it first reduces. Details about how most age […]
Life Insurance Riders: 13 (Often Forgotten) Policy Power-Ups
Life insurance riders are the unsung heroes of a life insurance policy. Riders add extra features to your policy that supercharge your life insurance. Unfortunately, these riders are often forgotten about as soon as the policy is delivered and thrown into a drawer. Today, I’m going to give you the complete lowdown on 13 different […]
3 Steps to More Effective Benefits Communication at Enrollment
Over the years, I’ve noticed employer groups have tried to move away from face-to-face enrollments with employees. Instead, there’s been a trend to rely more and more on email and other passive forms of electronic tools to communicate with employees and to enroll benefits. While it would be nice to have everyone read everything you […]
Why It’s Not Always Easy to Buy Life Insurance on Your Own
Many employer groups tell me that if their employees want permanent life insurance they can just go buy it on their own. The problem is that many employees can’t qualify for life insurance because of their medical history or for other reasons (like being a pilot or a race car driver for example). In […]
How to Use the Summary of Benefits & Coverages
Many people choose a health insurance plan based on how much the premium for that plan is. While that strategy works fine if you never go to the doctor, it’s not always the best approach if you actually will use your health insurance. That’s why the second thing you need to look at the Summary […]
The Employee’s Guide to Open Enrollment
The end of the year is the most common time for employer groups to enroll employees in their core benefits like health, dental and vision insurance. But as much as employers try to prepare their employees for enrollment time, many employees don’t put as much time as they should into the benefit selection process. In […]
How to Set Up Your Personal Life Insurance Program
As I am out talking with employees about their life insurance, I get asked a lot about what type of life insurance people should buy. Many people think that you should buy just one type of life insurance and ignore the rest. But I actually think there are four different types of life insurance you […]
6 Reasons Employees Enroll in Permanent Life Insurance
When I talk with decision makers in many employer groups, there’s often some discussion about whether or not employees have any interest in a permanent life insurance program. While it is true that not all employees are interested, there are many who are. Here are six reasons why employees want a permanent life insurance solution […]