Life Insurance is a very valuable piece of any Employee Benefit package. Many individuals and families depend on this as their only source of “death benefit”. It is important to make sure that the cost of these policies is monitored carefully. For example, it could be that as time has gone by, maybe your employee base has become younger. Maybe there are underwriting requirements that are restricting limits coverage for some employees that would not be a similar requirement with another insurer.
Also, we stress to our clients to remind their Employees every year to review their beneficiary designations. These frequently change over time, but the Employees do not think to make these changes of beneficiaries at work….which leads to many problems.
There are many different Life Insurance companies that we work with. I am sure we can find one that works particularly well with your company.