Whole Life Employee Insurance is an insurance plan guaranteed to remain in place for the insuree’s lifetime. It also includes a death benefit, payable to beneficiaries of the insuree’s choice when the insuree dies.
It is worth considering that the premiums of Whole Life Employee Insurance Plans are generally higher than those of term life insurance.
There are substantial advantages for the insure who purchases a Whole Life Insurance Plan through their place of employment. The high number of people in the insured group can lower the cost of premiums. Premiums can be deducted from paychecks, taking the legwork out of staying on top of payments.
Offering Whole Life Employee Insurance Improves Employee Morale
Implementing Whole Life Employee Insurance as part of your company’s benefits plan sends your team the clear message that you value their long-term wellbeing and that of their families.
One of the greatest fears of working Americans is whether their families and loved ones will be financially secure in the event of their death. Whole Life Employee Insurance Plans allow insurees to nominate multiple beneficiaries and designate each one a percentage of their payout.
Employees who feel confident that the financial security of their family is assured are more able to focus on the job at hand rather than the potential challenges of an uncertain future.
Whole Life Employee Insurance Enhances Employee Commitment
Employees who reap the rewards of well-considered benefits packages are likely to remain in their positions for longer than employees who feel overlooked in this regard. In our current era of economic uncertainty, many businesses are making drastic changes to their employee benefits programs. Offering a Whole Life Employee Insurance plan gives you a significant advantage over the competition.
By maintaining a commitment to an employee benefits system, you demonstrate a dedication to the financial stability of your employees and their families, which is one of the most powerful ways to ensure staff loyalty. More than ever before, people wish to feel respected and valued by their employers. Many qualified and talented people have become empowered to work for themselves as freelancers. With this in mind, benefits packages can be a powerful incentive.
Putting Together An Employee Benefits Package Can Be Challenging
With myriad employee benefits options on the market, it’s easy to feel overwhelmed by choice. Employee Retention Benefits (ERB) offer up-to-the-minute industry knowledge and decades of experience to point you in the right direction. Selecting the best insurance options for your team is an immensely challenging process with many variables to consider. Employee Retention Benefits aims to make the process as smooth as possible.
We are proud to introduce you to our portfolio of benefit and payroll services and offer you the advantage of over 129 carrier relationships we have formed across the United States. If you’re a San Bernadino, CA area business owner considering implementing Whole Life Insurance Plans for your team, contact us.
