What Is Life Insurance?
Life Insurance helps protect the financial futures of those who depend on an employee’s paycheck. Group Life insurance helps pay a beneficiary (a person an employee chooses) a lump sum amount upon an employee’s death.
Life insurance amounts can range from a flat dollar amount to multiples of an employee’s salary (e.g., 3x the salary). The Hartford's Life insurance also provides other services to an employee and their family, like will preparation, funeral planning, travel assistance and more.
Why Employees Need Life Insurance
- 80% of consumers believe most people need life insurance.§
- 50% of US Households feel that they need more life insurance and that they would feel the financial impact of losing their primary wage earner in a year or less.2
- Life insurance policies can help heirs take care of burial and other funeral expenses, replace lost income, and pay off the mortgage.†
- Nearly 7 in 10 U.S. workers – across all generations – believe having a life insurance benefit available to them at work is important and the importance workers place on life benefits has increased by more than 20% over the past five years.2
What Life Insurance Covers
Our term life insurance offers more than just death benefits. The following are also available:
- Living Benefit Option (Accelerated Death Benefit)
- Accidental Death & Dismemberment (AD&D) Rider
- Disability Waiver of Premium
- Portability
- Conversion
Flexible Life Insurance for Businesses
We can help employers choose the life insurance plan that best suits their employees’ needs:
- Employee coverage (face) amounts of $25K to $250K in increments of $25K, with no salary multiplier*
- Spouse coverage amount up to 100% of the employee amount
- Child coverage amount up to $15K – Standard is $10K
- Annual buy-up option without Evidence of Insurability (EOI)
- Guaranteed issue amounts based on group size
What Employees Get
The Hartford goes beyond the benefit with built-in value-added services to support an employee's recovery – at no extra cost to the company or the employee.
- Funeral Planning and Concierge Services1 a suite of online tools to guide employees through key decisions before a loss, including help comparing funeral-related costs. After a loss, this service includes family advocacy and professional negotiation of funeral prices.
- Beneficiary Counseling Services2 offer compassionate expertise to help employees or beneficiaries cope with emotional, financial and legal issues that arise after a loss.
- EstateGuidance2 Will Services help protect a family’s future by creating a will online – backed by online support from licensed attorneys.
- Travel Assistance & ID Theft Protection and Assistance Services3 include pre-trip information that helps employees feel safe and secure while traveling. Also available is access to medical professionals across the globe for medical assistance when traveling 100+ miles away from home for 90 days or less when unexpected detours arise. Another important service is ID theft protection, available 24/7 whether home or away. Protection is provided two ways: educational materials to help prevent identity theft, and access to caseworkers who can help resolve problems that result from identity theft.
How to Get Life Insurance
The Hartford makes it easy for brokers and employers to find the right coverage. Connect with a representative from The Hartford today.
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Life Form Series includes GBD-1000, GBD-1100, or state equivalent.
* More plan design options available.
§ LIMRA, Life Insurance Consumer Studies Fact Sheet, 2014.
† LIMRA, Facts of Life: Life Insurance Available Through the Workplace, September 2015. http://www.limra.com/uploadedFiles/limra.com/LIMRA_Root/Posts/PR/_Media/PDFs/2015-LIAM-fact-sheet_Group.pdf