The loss of income may create an immediate financial hardship and lifestyle changes for your employees' loved ones. Life insurance provides basic protection and helps assure that families can maintain financial security and meet financial obligations after a tragic loss.
While many U.S. households have life insurance, the average amount of coverage can often be inadequate to meet family needs or pay off debt. Taking advantage of life insurance coverage can be an important part of your employees' financial security.
Life insurance can help your employees:
- Protect the family: Life insurance helps replace income when a family needs it most.
- Protect the home: For most families, their home is their largest asset. Life insurance can enable the family to remain in the home, pay the mortgage and avoid the trauma of relocation.
- Protect children's educations: Covering the soaring cost of education becomes even more difficult when there is a loss of income. Life insurance helps secure employees' children's future.
- Settle expenses: Life insurance can also help cover financial expenses, such as medical bills and funeral costs, as well as unplanned expenses and unforeseen financial crises.