As an employer, taking an employee life insurance policy might probably be of enormous advantage. When you take it for a large number of employees, as a whole group, it is cheaper.
It is very helpful for the employees to build their confidence in your business. It also helps in attracting the new workers and retaining the old ones Bulk policies for all of the employees of the corporation are usually taken but the individual policies can also be availed. To know more about employee life insurance visit https://getstratford.com/.
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When the insurance policies are taken in bulk it is called group employee life insurance. On an employee availing the life insurance policy, there could be some clauses included by the company.
The clauses might be such as the employee should have been working in the corporation for a particular time like six months or a year. The corporation might also look for medical certificates of the staff. Clauses may contain the upper and lower limit of age.
A life insurance policy either pays off as a bulk amount or in the form of regular income, in the event of the death of an employee. When a policy is taken early in life, it comes for an extremely nominal cost.
Health insurance policies are taken to avail benefits when an employee is momentarily not able to work because of some illness. These policies pay off regularly or in bulk. If the person is diagnosed with some critical health problem even though the person can work, these policies can be availed.