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It's Life Insurance Awareness Month! What Does That Mean For Your Business? | Step Benefits Group
Toll Free: 1-888-888-8888
Southern Ontario: 416-853-3435
Northern Ontario: 705-222-3435
6
Nov
6 Nov

It’s Life Insurance Awareness Month! What Does That Mean For Your Business?

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Celebrate Life Insurance Awareness Month by educating your employees on the many benefits of life insurance.

Life Insurance

Life insurance isn’t simple; there are many elements that must be examined carefully in order to get the right type of insurance and the right amount of coverage. It is important as an employer to provide your employee with peace of mind and the best options for insurance.

There seem to be a lot of misconceptions about how life insurance works, so during this month is the perfect time to talk about these things and clear them up for good to better help your employees, and in turn better help your business.

Let’s start by talking about some of the common situations you may be faced with:

  1. “I’m single with no kids, I don’t really need life insurance.”
  2. Many would like to believe this to be true, but it’s not necessarily the best way to go about it. Even though we have medical benefits, there may be something that isn’t covered – so singles need enough to cover their personal debts, funeral costs, and medical fees. If you don’t have insurance, you may leave your family with unpaid expenses. If you have insurance, you may be able to leave any of your remaining money to a cause that you believe in, or to your family.

  3. “It’s better to invest money than to buy any sort of life insurance.”
  4. With investment there is always risk, so there is no way of really knowing how investing will work out for you. You might want to do a combination of investment and insurance – this way you are able to have the best of both worlds.

  5. “The breadwinner of the family is the only one who really needs life insurance.”
  6. The cost to replace the services that were provided by the deceased homemaker can be much higher than you would think. Cleaning, cooking, day care; these costs add up quite quickly and so does the time it takes to do all of these tasks. The primary breadwinner, the secondary breadwinner or homemaker should both have coverage to ensure that both parties are protected if the other was to pass away.

By providing your employees with the best coverage options – they feel secure in knowing that their families will be taken care of and that you are truly looking out for them. This will lead to better employee retention, happier workers, and a better overall work experience for your staff. We offer Employee Benefits Plans and Individual Insurance plans to best suit our clients needs. Contact us toll free at 1-866-488-2381, or in Northern Ontario at 705-222-3435 and Southern Ontario at 416-853-3435.

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