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The life insurance group is an essential benefit for institutions that care about the welfare of their employees. After all, this type of policy ensures that each one is protected. Below, we will list the main advantages that business life insurance offers, both for the business itself and its employees.

Employee motivation

If you want your company to be always in evidence in the market, it is essential to have trained professionals forming your workforce. But the attraction of these people may not be so easy. Therefore, not giving importance to an attractive employee group benefits package helps make this process even more difficult.

Managers need to understand that, today, people do not only want remuneration compatible with their qualifications. They also seek a better quality of life. For this, reducing stress levels is paramount. Within this context, life insurance helps to create a favorable organizational climate, which directly reflects on productivity rates and everyone’s motivation.

Safety for your family members

Life insurance benefits are not restricted to employees only. Each employee’s family will also be safer. Thus, if an unforeseen circumstance leaves the beneficiary unable to care for his family members, the insurance will provide all the necessary support, according to the contractual draft.

Convenience and more affordable cost

Another significant advantage of group life insurance is that it is cheaper than individual contracting. As the employer makes a joint policy for several policyholders, the cost is more affordable.

This is good for the company, whether it has opted for full or partial payment or when he has the direct discount on his paycheck. The procedure for acquiring this type of policy is straightforward, as we will see below, for everyone involved.

Ease of adding new employees

Depending on the business model, some organizations have a high turnover rate. These frequent changes in the workforce do not make the hiring of group life insurance more bureaucratic. It is just the opposite.

It is very easy to add new professionals to the coverage. This occurs automatically when the worker is registered as a beneficiary of the Severance Pay Fund. Depending on the insurer’s agreement, the company may only need to send a list with the names of all active employees each month.

If there is any change in the enterprise’s direction, it is also possible to include business life insurance. Our tip is for managers to try to align these issues with the insurance company.

Possibility of hiring for a global value

In times of economic crisis, care must be taken to ensure that the corporate budget is followed with discipline and attention. Thus, to be more predictable of expenses, some entrepreneurs prefer to opt for global value insurance instead of having a cost for each worker.

Therefore, the policy will have a fixed amount, covering a coverage package, which does not change due to the number of employees. This type of contract eliminates the need to communicate admissions and dismissals, minimizing possible mistakes in the collection and payment of insurance.

Income Tax Exemption

Talking about financial benefits, it is worth mentioning that one of the most exciting advantages of life insurance is that there is no tax levy on the indemnity payment. Therefore, when the beneficiary receives an indemnity, there will be no tax collection on that amount.

Nor does the inheritance tax apply to the financial reparation of group life insurance.


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