Depending on the size of your business, you may be able to get added benefits from your life insurance policy, such as these:
- Dependent Coverage. Employees can choose to cover their spouse and eligible dependent children.
- Accidental Death Benefit. If the employee dies in an accident, an additional benefit is paid.
- Waiver of Premium. If an employee becomes disabled, coverage continues with no further premium payments.
- Accelerated Benefits. If an employee is terminally ill, benefits are paid before death to help provide for his or her needs.
Your insurance agent can explain what additional features and riders are available for your life insurance policy.