How life insurance works
Increase your benefit coverage portfolio without impacting your bottom line
No matter where your employees are in life, they can get coverage that’s right for them with options that can help them protect their family’s future. Life insurance pays a benefit to their loved ones in the event of their death, and certain types of coverage can also build cash value over time.
Life insurance can help an employee’s family with things like:
- Paying medical and funeral bills
- Replacing lost income
- Paying off a mortgage and other debts
- Protecting retirement plans
- Funding college expenses
Below is an overview of the major types of life insurance offered by Colonial Life.