Group Life and Accidental Death/Dismemberment
The benefits and options associated with group life insurance and accidental death and dismemberment insurance are vast in nature.

The employer benefits from providing group coverage for employees for the following reasons: employer paid premiums are tax-deductible, life insurance promotes goodwill and demonstrates that the employer cares about their employees and the coverage provided is often perceived as a fringe benefit that helps attract and retain quality personnel.

Employees benefit from group coverage as Most life insurance amounts are guaranteed issue (no medical history required) and the death benefits in excess of $50,000 are taxable to the employee as a fringe benefit; however, the death benefit is income tax free to the beneficiary.

Employers have a choice of flexible options to tailor coverage to meet their benefit plan goals such as: flat amounts of life insurance - i.e. $50,000 per employee, amounts of life insurance can be tied directly to annual salary - i.e. 1 or 2 times salary, face amounts can be issued by class type - i.e. salaried vs hourly. Employers frequently also have the option to choose from programs offering 1, 2 or 3 year rate guarantees.

Supplemental Life Insurance
In addition to the employer sponsored and provided coverage, your Stratford representative can also establish a supplemental product to allow employees to purchase additional coverage, on a group basis, to further meet their life insurance needs and objectives.

Supplemental programs offer employees the advantages of a group program such as simplified medical underwriting, pre-defined amounts of guaranteed issue coverage and the convenience and discipline of payroll deducted premiums.

Voluntary Life Insurance
In lieu of employer provided coverage, your Stratford representative can help implement a voluntary product to allow employers to sponsor coverage whereby interested employees can apply. Employees purchase coverage on a group basis, at group rates, to meet their life insurance needs and objectives.

Voluntary programs also offer employees the advantages of a group program such as simplified medical underwriting, pre-defined amounts of guaranteed issue coverage and the convenience and discipline of payroll deducted premiums.