Why Choose Group Life Insurance?

Group Life Insurance is typically included in employee benefits packages, covering an entire group rather than individuals. Here’s why it’s advantageous:

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• Cost-Efficiency: Rates are based on the collective risk of the group, often resulting in lower premiums compared to individual policies.

• Tax Benefits: Premiums are usually federal income-tax deductible.

• Employee Morale: Provides valuable life insurance protection, enhancing employee security, loyalty, and morale.

• Reduced Turnover: By offering a comprehensive benefits package, you can lower hiring and training costs.

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Group Life Insurance Options

Lake Hill Insurance Agency offers two main types of Group Life Insurance:

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• Term Life Insurance: The most common and cost-effective option, providing coverage for a specified term or until employment ends. Employees can convert to an individual policy upon leaving, though premiums may be higher.

• Whole Life Insurance: Provides coverage for the employee’s lifetime but tends to be more costly compared to Term Life.

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