Group Term Life Insurance from Madison National Life Insurance Company, Inc. can help ease the financial and emotional stress associated with the loss of a loved one. The lump sum benefit can be used to help pay for final expenses and other financial obligations.
Strengthen your workforce by easing the financial and emotional stress of losing a loved one with Group Term Life insurance from Madison National Life.
Many workers count on employment based life insurance. Among the 57% of private sector workers and 81% of state and local government employees that have access to employment based life insurance, 98% participate1.
Madison National Life enables employers to give workers access to this desirable and valuable benefit.
Benefit designs are customizable and can be scaled up or down depending on the budget and need.
Advantages of Madison National Life’s Group Term Life Insurance
- Premiums can be fully paid by the employer, shared or voluntary
- 1099 workers are eligible
- Generous guaranteed issue (no evidence of insurability) benefit amounts without health questions and simplified medical underwriting for higher benefit amounts
- Spouse and dependent children insurance available
- 24-hour coverage (on and off job)
- Upgrade to one or more options:
- Accidental Death and Dismemberment (AD&D) – additional benefit paid for loss or life or limb due to an accident
- Waiver of premium – no payment due when totally and permanently disabled
- Accelerated Death Benefit with a living benefit – pays specified percentage of the benefit amount for diagnosis of a terminal illness
- Portability Benefit – enables life insurance to continue upon loss of insurance (up to 3 years or age 65)
For a complete explanation of benefits offered, including list of limitations and exclusions, please see the Certificate of Insurance to learn more.
- Department of Labor (July 2018) https://www.bls.gov/news.release/pdf/ebs2.pdf