Group Life Insurance Plans

Group Life Insurance Plans

Protecting employees, families, and financial security

Group life insurance plans provide financial protection for employees or members by offering life insurance coverage through an employer or organization. These plans help support families in the event of a death while also serving as an important benefit that can help attract and retain employees. Whether offered as part of a benefits package or through an association, group life coverage provides affordable protection with simplified enrollment.

Properly structured group life plans help organizations provide meaningful benefits while maintaining cost control and compliance.

Key Risks Without Group Life Coverage

Organizations without group life plans may face challenges related to:

• Lack of competitive employee benefits

• Difficulty attracting and retaining staff

• Financial hardship for employee families

• Inadequate coverage for key personnel

• Gaps in employer-sponsored benefit programs

• Compliance issues with benefit regulations

Providing benefits can be critical for long-term workforce stability.

Core Coverages in Group Life Plans

Group life insurance programs typically include:

Basic Group Life Insurance
Provides a set amount of life insurance coverage for employees or members.

Voluntary Life Insurance
Allows employees to purchase additional coverage beyond the employer-provided amount.

Dependent Life Coverage (when offered)
Provides life insurance for spouses or children.

Accidental Death & Dismemberment (AD&D)
Pays additional benefits for certain accidental injuries or death.

Employer-Paid or Employee-Paid Options
Plans can be funded by the employer, the employee, or shared.

Supplemental Coverage (when applicable)
Provides additional protection for executives or key employees.

What’s Commonly Overlooked

Group life plans are often weakened by:

• Coverage amounts that are too low

• Failure to update benefits as staff grows

• Missing dependent coverage options

• Lack of executive or key person protection

• Poor plan communication to employees

• Non-compliance with benefit regulations

These issues often appear when benefits are needed most.

Real-World Claim Examples

• An employee passes away unexpectedly

• A family relies on life benefits for expenses

• A company loses a key executive

• Employees request better benefit options

• A business competes for talent with stronger benefits packages

Group life insurance helps provide stability during difficult times.

Why Proper Placement Matters

Group life plans vary based on:

• Number of employees

• Employer contribution structure

• Industry benefit standards

• State and federal regulations

• Executive compensation needs

• Budget and cost control goals

Improperly designed plans may not provide the protection employees expect.

Our Approach

At Cory Washington & Co., we design group life insurance plans based on your workforce, budget, and long-term goals. We help structure benefits that support employees while keeping the program simple, compliant, and cost-effective.

Strong organizations take care of their people.