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Group Life Insurance from GMG Insurance

Most employees with dependents are well aware that their premature death could cause financial disaster for their loved ones. GMG Insurance offers its business clients an opportunity to help employees backstop their income should an early death occur. Our group life insurance plans are highly affordable for your company and your employees.

Life Coverage Options

Life insurance is generally available as term life or whole life. They differ in cost and benefits and are used for different protection, depending on the employee’s age, lifestyle, dependents and future plans.

A group term life policy is usually very affordable for employers and employees. The large amount of insurance it provides lasts for a pre-set period, or “term.” It is widely used to provide benefits for dependents should the insured die prematurely. Younger employees who have children whose financial care is dependent on the insured’s income find it an attractive product.

A whole life insurance policy, also known as permanent life insurance, costs more, but it can provide coverage deep into the policyholder’s retirement years, and it builds cash value over the course of its life.

Under a group life insurance policy, there are usually no medical exams, and pre-existing conditions don’t disqualify employees from enrolling. Although the employer owns the master policy, participating employees can usually convert their coverage to an individual plan if they leave that employer. (There are some restrictions.)

Group life can be complemented by disability insurance for broad income protection.

Turn to GMG Insurance for personalized attention on managing your assets and securing products that accommodate your lifestyle, now and as it changes over time. Contact us at (215) 497-9240; (800) 540-7900; or email at info@gmgins.com.