Group Life

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When an untimely death occurs, group term life insurance from Madison National Life helps workers be more financially prepared by providing a lump sum benefit that can help pay for funeral costs and basic living expenses.

Nearly 40 percent of Americans say they wish their spouse or partner had more life insurance coverage. Half of married millennials wish their spouse had more life insurance1.

The top three reasons Americans give for owning life insurance is1:

  • Cover burial and final expenses (85 percent)
  • Help replace lost wages/income of a wage earner (67 percent)
  • Transfer wealth or leave an inheritance (63 percent)

Buying life insurance in the workplace has three distinct advantages: convenience, price (group term life is generally less expensive than a comparable individual term life insurance), and acceptance (certain benefit amounts may be offered without medical underwriting)2.  The same is also true for group term life from Madison National.

  1. LIMRA Facts About Life (September 2017)
  2. Nerdwallet.com (May 2017) https://www.nerdwallet.com/blog/insurance/pros-and-cons-of-life-insurance-through-work/

Engage with Madison National Life for Group Term Life Insurance

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