Group Life Insurance — Life Benefits for Your Business
State Farm® has a Group Life insurance plan that offers benefits for both you and your employees.
As an employer, you are aware of the importance of employee benefits and their contribution to your business success. State Farm can establish a plan for employee groups of five or more in all states where its group life product is sold. For additional information including eligibility requirements, contact your State Farm agent.
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Advantages to the Employer
- Federal income-tax deductible premiums
- Desirable fringe benefit to offer new employees
- Reduced turnover, saving your money in hiring and training costs
- Contributes to employee security, loyalty, and higher morale
- Valuable life insurance protection provided at a low group rate
Advantages to the Employee
- Valuable life insurance protection provided at a low group rates
- Right to name and change beneficiaries at any time
- Waiver of Premium Disability Benefit rider is available at no extra cost
Your State Farm agent will complete a factfinder to gather information about your business and your objectives for a group life plan. Based on the information, a Plan Design Specialist will prepare a proposal for you to consider.
This brief overview of the State Farm Group Life Plan is not intended to be a complete explanation of plan features. For more detailed information and state exceptions, please refer to the online Human Resources Policy Manual that will be available to you once you begin your employment with State Farm.