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  • Supplemental Life Insurance Valued by Employees

    A recent MetLife study suggests that most working Americans recognize the value of employer provided life insurance for helping fill their life insurance coverage needs.   Unfortunately, the amount of benefits may not sufficiently meet an employee’s need for financial protection. “Individuals are very interested in having an opportunity to purchase additional life insurance – supplemental coverage – through the workplace, if their company were to make higher coverage levels available,” reports Stephen Pontecorvo, a vice president for group life with MetLife, which conducted the research. “Life insurance is an important cornerstone of any financial protection plan.” More than half of 1,412 full-time employees responding to MetLife’s 9th Annual Study of Employee Benefits Trends (EBTS) described life insurance offered through the workplace as important. This was true even if they must finance the entire cost, which is viewed as a small price to pay to help achieve financial security. Pontecorvo says convenient payroll deduction and competitive group rates help make supplemental life a highly accessible benefit. “With many employees living paycheck-to-paycheck and concerned about their financial security in the event of sudden income loss,” Pontecorvo explains, “providing a way for them to access coverage through the workplace, at competitive group rates, can help provide peace of mind.”

    Please contact our office for more information on this valuable benefit.

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