It features a set premium and offers protection for a specific time period or "term". You also have the flexibility to change your coverage as your needs evolve.
Common types of insurance at the workplace include:
Basic Term Life: Basic Term Life is generally an employer-paid benefit that provides your beneficiaries with essential protection and a cost-effective financial safety net in their time of need.
Supplemental Term Life: Supplemental Term Life is generally an employee-paid benefit that offers you extra protection to fit your needs.
Dependent Term Life: Dependent Term Life provides coverage for your spouse, civil union partner or domestic partner, and eligible children.