No one wants to think about the worst case. But for employees with families, mortgages, and people who depend on their income, knowing they are covered changes everything. Group life insurance is one of the most valued benefits an employer can offer, and one of the most overlooked: nearly 6 in 10 private industry workers have access to it, yet many small businesses still leave it off the table.
At Volk Insurance Benefits, we help employers put real financial protection behind their teams: coverage that helps a family keep the lights on, the mortgage paid, and the kids in school if the unthinkable happens. It is one of the most affordable benefits you can offer, and often the most appreciated.
Many employees use critical illness insurance alongside their health insurance to reduce the financial impact of an unexpected critical illness.
Employer paid coverage offered to all eligible employees, typically a flat amount (like $25,000) or a multiple of annual salary (1x or 2x pay). The foundation of nearly every group life plan, and the first $50,000 is tax free to employees under IRS rules.
Optional, employee paid coverage on top of the basic benefit. Lets employees buy additional protection at group rates, often without a medical exam up to certain limits, giving families more security at a price an individual policy rarely matches.
Additional protection that pays a benefit for accidental death or serious injury, often paired with basic or supplemental life coverage for an extra layer of financial security.
Extends protection to a spouse, domestic partner, or children. A modest benefit that helps a family manage costs like funeral expenses or time off work during an already difficult moment.
We build group life plans around two layers of protection: a baseline benefit your business provides at little to no cost, and optional coverage employees can add for themselves and their families.
Basic coverage funded by your business, often a flat amount or a multiple of salary.
Voluntary coverage employees elect and pay for through payroll, at group rates.
Simple enrollment with guaranteed issue amounts and no health questions for most employees.
Many employees use critical illness insurance alongside their health insurance to reduce the financial impact of an unexpected critical illness.
Basic group term life is one of the most affordable benefits available, often costing just a few dollars per employee per month for a flat benefit or modest salary multiple. Pricing depends on group size, age mix, and coverage amount.
Yes. Premiums an employer pays for group term life coverage are generally fully deductible as a business expense, and the first $50,000 of coverage is tax free to the employee.
It depends on the plan. Some group life policies are portable, meaning employees can take coverage with them and pay for it directly. Others allow conversion to an individual policy. We help you choose carriers that offer this flexibility.
Usually not. Most group plans offer guaranteed issue coverage up to a set amount with no medical exam or health questions, making enrollment fast and simple for your whole team.
Yes. Dependent life coverage is a common add on that extends a modest benefit to a spouse, domestic partner, or children, often at a low employee paid rate.
Interested in learning about how our benefits support team can help you simplify your benefits? Reach out to us for a complimentary benefits and compliance assessment.
