The group term life cover seeks to help the employer to protect his employees' families as well as their assets at a minimal cost. The employer offers this protection without the added burden of administration. Therefore, it is important to find a service provider who will be in a position to offer the best coverage based on flat amounts, salary multiples, employee class or incremental amounts. The provider will help the company design a plan that offers optional and standard features that fit the company's needs, making the coverage attractive to employees. The products offered by the carriers include:
· Comprehensive plan
The right carries are recommended because they have a long history of designing and implementing voluntary plans. They are able to build innovative solutions which have the capacity of delivering on real results over the long-term. The companies develop and recommend the right communications while ensuring the successful enrollment of insurance plans. These helps to maximize the number of enrolled employees in the group life plan. The plans offer coverage due to coma, disappearance, employee/spouse joint death and felonious assault. Furthermore, the benefits are available for spouse or children tuition reimbursement, surviving spouses and day care expenses
· Accidental Death and Dismemberment insurance
Many of the service providers offer accidental death and dismemberment insurance plan. Therefore, the employer chooses who gets covered, how much they are covered and who gets to pay for the coverage. The basic accidental death and dismemberment plan offers employees accident protection on a non-occupational or 24/7 basis. The coverage is generally provided on an employer paid benefit to the employees only. The optional dismemberment plan seeks to provide employees with a supplemental, 24/7 protection. This employee paid coverage seeks to cover the employees only or the employees and their spouses and eligible children.
· Business Travel Accident plan
The service providers also offer a business travel accident plan that seeks to offer benefits for death or accidental injuries when the employees are travelling on approved business. This type of insurance policy offers an economical and efficient way for the company to transfer liability and risks when the employees are called upon to travel on behalf of the company. The organization can consider providing supplemental covers for accidents that occur to the employees as they commute to work. Furthermore, some carriers provide special risk covers for pilots & their crew members, terrorist acts, war, emergency teams, hijacking/piracy and more. Some of the plans are often expanded to provide coverage for pleasure travel.