Life Insurance
Beneficiaries depend on life insurance to deal with costly funeral arrangements and loss of income as they embark on a life without a loved one. Help provide them with the security to ease their financial uncertainty.
Why does your business need it?
- Support families when income suddenly stops
- Help cover funeral costs and outstanding debts
- Show employees you value their family’s well-being
- Strengthen your benefits package to retain talent
What does our coverage do?
- Pays out a lump sum to chosen beneficiaries
- Offsets living expenses and future financial goals
- Provides options for both term or permanent plans
- Has the opportunity to build cash value over time
Safeguard the future from uncertainty.
Accidents, illness and loss can strike at any time. Life insurance helps safeguard a family’s well-being, ensuring they can focus on what matters instead of bills or debt.
Talk to an agent
Unexpected loss of income
When a provider passes away, their family may struggle to pay bills and maintain daily living expenses without replacement income or financial support.
Unpaid debts and loans
Mortgage balances, student loans and credit card bills can create major strain for families already facing loss. Life insurance can offset those financial pressures.
Rising funeral expenses
Funeral and memorial costs often reach thousands of dollars, creating an immediate financial burden for loved ones without advance planning or benefits.
Dependent care gaps
Families with young children or elderly relatives may suddenly need childcare or in-home assistance, adding unexpected monthly costs and stress.
Loss of employee stability
When a team member dies, coworkers and employers feel the impact. Providing life coverage demonstrates support and reduces financial uncertainty for everyone.
Our life insurance options include
Group Life
For employees who opt in for coverage that will support their families if they die.
Supplemental Life
For individual employees who want to purchase extra coverage for themselves or their families.
Accidental Death & Dismemberment
Cover employees who are injured or die due to an accident.
Frequently asked questions about employee life insurance
Term life insurance covers your employee for a set period of time. It tends to be the more affordable option in a group plan.
Universal life does not have a term limit and lasts for that employee’s lifetime. These policies cost more but provide each insured employee with permanent insurance coverage that also accumulates a cash value year after year.
Your Highstreet agent can help you understand all the options and help you choose the right group plan.
Most group term life policies offer either a set amount of payment per employee, or may be based on the employee’s salary, paying one or more years of income to the family. The type of benefit you choose may reflect the makeup of your workforce, including their ages, their salaries and whether they have dependents. Your Highstreet agent will go over these details with you, and help you select a policy that works for them — and you.
Depending on the policy you choose, employees could lose their benefits if they resign, are laid off or reduced to part-time status. Some policies will allow employees to convert their part of the group policy to an individual one. If portability of insurance is an important aspect for you and your employees, your Highstreet agent can help you find the right plan.
Numbers to know
Top employee benefit
45%
of employees rank life insurance among the most important workplace benefits. (Forbes, 2023)
Employer adoption
43%
of employers include life insurance as a key benefit offering. (Forbes, 2023)
Enrollment growth
50%
annual increase in employee participation in opt-in life insurance plans. (SHRM, 2022)
