Term Life Insurance for Your Group
Term life insurance can be an affordable addition to your employee benefits package.
Insurance Tip
In addition to group term life insurance, “key person” life insurance is an important coverage for a medical practice to carry. The policy covers a key person in the organization, and the benefit can be used to maintain the solvency of the practice if that person dies. Read more in our guide, A Practice of Your Own.
Download A Practice of Your Own guideTerm life insurance is an attractive benefit for employees because:
- Typically, employer-sponsored life insurance plans don’t require employees to pass a medical exam.
- It’s easy to enroll.
- The employer may pay the premium, or a portion of the premium.
- If the employer offers term life insurance as a voluntary benefit and the employee pays the premiums, the cost may be lower than an individual policy because the risk is spread across the whole group.
- They may be able to convert the employer-sponsored life policy to an individual plan if they leave the practice.
It’s a good idea for employers because:
- Offering life insurance as a part of your benefits package can help you attract and retain quality employees.
- You have the flexibility of paying for the premiums, or offering term life insurance to your employees as a voluntary benefit, whatever fits the budget of your practice.
- Typically, rates are very affordable because the risk is spread across the entire group.
A TMAIT Advisor can help you find the term life insurance plan that's right for you and your group.
We can shop the open market for you.
Our Advisors can present a range of term-life options from reputable insurance carriers. We can also help you decide whether to offer term life insurance as an employer-paid or voluntary benefit. We do the legwork. Your group gets the term life plan that best suits the needs of your group.
Request a quote
Complete a short online request form and a TMAIT Advisor will contact you with custom pricing, ready to discuss all your options.
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