June 15, 2017 11:30
Photo : Freepik
Empire Life has recently announced the launch of a new option that offers customers insurance with more choice for their coverage life insurance. Businesses with 20 or more employees that add minimal protection for their guaranteed life insurance can now choose between a traditional life insurance and combination life insurance and critical illness insurance.
«While five generations overlap currently on the job market, our customers must respond to the challenge more important than ever to respect the values of a workforce that is very diverse and respond to the needs of it,» says Steve Pong, senior vice-president, insurance Solutions group. We are pleased to offer to the customers an additional degree of flexibility and a new option in the context of their group insurance plan. «
Life insurance provides a death benefit free of tax; the insurance in cases of serious illness provides a benefit for disability is tax-free if an insured person receives the diagnosis of a covered critical illnesses. The ability to add these two coverage options to a plan providing for a minimum protection allows business owners to offer a protection that corresponds to their philosophy of collective insurance and the needs of their employees.
«This option takes into account the different needs of employees at various stages of their lives, as well as the fact that the expectations of a group insurance plan will vary widely from one customer to another,» says for its part, Michael Perry, vice-president, Products and Marketing, insurance Solutions collective. It is an excellent solution for business owners who want to protect their employees against the financial burden that often accompanies a diagnosis of a serious illness, without imposing a too important cost of the plan. «