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Group Life Insurance

Business owners in today’s competitive job market recognize the importance of attracting and keeping good employees. Providing group life insurance is an economical way for you to provide a quality benefit that your employees value and appreciate.

Regardless of the number of employees you have, Erie Family Life* has a plan designed to protect your full-time workers. All of this can be accomplished through the convenience of a simplified billing statement.

Two types of plans are available. Group Term Life is affordable life insurance protection paid as a benefit by the employer. LifeworksSM is a voluntary payroll deduction program for the employee. You have the choice of a variety of benefit schedules.

Some of the highlights include:

Group Term Life
Group Term Life is designed to cover all employees in a plan with premiums typically paid 100 percent by the employer. This is an annually renewable term policy providing a guaranteed death benefit.

Basic Coverage – $10,000 to $500,000 per employee. The maximum coverage amount is dependent on the number of employees within a group. Three different insurance schedules are available: flat amount of coverage, coverage amount varying by work classification and coverage as a multiple of your employees’ salaries.
Supplemental Coverage – An additional amount of insurance in excess of basic coverage that is paid by the employee. Basic and supplemental coverage are subject to maximum limits.
Waiver of Premium – This benefit is automatically included for ages 18 to 59. The Waiver of Premium benefit continues the insurance protection through age 65 with no further premium payments should a covered employee become totally disabled for more than nine months prior to age 60.
Conversion – Upon termination of employment, a covered employee may convert all or part of his or her insurance coverage without evidence of insurability to any policy offered by Erie Family Life for group conversion.
Accidental Death and Dismemberment (optional)- If the benefit is included on your group contract and an insured employee dies as the result of an accident, Erie Family Life will pay an additional amount equal to the life insurance benefit. In the event the employee loses a hand, foot or sight in one eye, Erie Family Life will pay an amount equal to one-half the life insurance benefit for a single loss or the full benefit for any combination of multiple losses.
Dependant Coverage (optional) – If dependent coverage is included in the group life contract, covered employees can elect coverage for their spouses and eligible dependent children.
Lifeworks SM, Erie Family Life’s voluntary payroll deduction program, may be offered in conjunction with our group life insurance plans at no cost to you. As the employer, you simply agree to let your Erie Insurance Agent meet with each employee and process the scheduled deductions from their paychecks.

Types of Coverage – Both Whole Life and 15 Convertible Term insurance plans are available.
Amount of Coverage – $5,000 to $150,000 depending on the plan and age of the insured.
Dependent Coverage Available – Full-time employees may purchase additional life insurance for their spouses and eligible dependent children and have the premiums conveniently deducted from their paychecks.
Waiver of Premium – This benefit is automatically included at issue ages 15 to 55.
Portable Coverage – These plans are individually owned by the employees. If they leave employment, they can continue with their life insurance coverage.
Your Erie Family Life Agent can provide a full line of life, commercial and personal insurance protection for all your business and personal needs.

*Life insurance and annuity products are not available in New York. Refer to our Disclaimer for additional information.

Other Products

Whole Life Insurance
Universal Life Insurance
Term Life Insurance