Obtain quotes for group life insurance by going online to insurance company websites, such as those for SelectQuote Insurance Services or NetQuote, and follow the prompts on the company Web pages to retrieve a quote. Many of these services provide quotes from dozens of insurance companies, and consequently allow consumers to compare quotes and find an appropriate group life insurance policy.
Group life insurance is frequently provided by employers or associations as a benefit that is free of charge, reports SelectQuote Insurance Services. Employees or association members can elect to purchase additional coverage at their own expense if necessary. A typical policy covers an amount of one to three times the employee's annual salary, which gives support to listed beneficiaries in the event of the employee's death. Most policies are not capable of being carried by an employee from one employer to another.
Life insurance benefits a surviving family in many ways, explains Metropolitan Life Insurance Company. The coverage disbursed to beneficiaries is useful for covering a family's daily expenses, helping family members maintain their standard of living, eliminating any household debts, providing college tuition for children, and supplementing retirement savings. A common additional coverage is called accidental death and dismemberment, which gives support in the event of accidental death or the loss of limbs, speech, hearing, sight or more.