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Educate Employees on the Importance of Life Insurance

Educate Employees on the Importance of Life Insurance (click here for the full article)

Although life insurance is one of the most common employer-provided benefits, many employees do not appreciate its value. As an employer, you are well-positioned to educate employees on the importance of this coverage.

 

What’s in it for you? Educating employees about life insurance can yield higher enrollment, greater appreciation for your benefits package and increased loyalty to the company. Many employees are not financially savvy, but are interested in learning. Financial education from their employer can foster a stronger company-employee relationship.

 

Why It’s Important

Many employees have never considered life insurance, or think it is an unnecessary expense at this time in their lives. However, having life insurance is important for people of all ages and a few probing questions can help your employees think more clearly about their needs and benefits of coverage, such as:

  • Are you the primary household income?
  • Do you have a mortgage, college loans or other substantial debt that is unpaid?
  • How would your family support themselves if you died?
  • Could you (or your family) afford tens of thousands of dollars in medical bills and/or funeral costs?
  • Who would have the burden of paying any debt or other financial responsibilities that you leave behind?

Educate Employees on the Importance of Life Insurance (click here for the full article)