If the employee is a "key person" in the business, it can be very costly for a business to lose him/her. The time spent in finding and training a new employee could put the business under. So providing life insurance that pays the business in the event that a key employee passes, can be extremely important.
Some businesses provide group life insurance for all their employees. Rather than the death benefit going to the business, it is paid to employee's family in the event of his/her death. This is a benefit that might draw good employees to apply or stay at a certain business, which is an important part of running a profitable business. It also can be very meaningful to the employee's family if death occurs.
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Some businesses provide group life insurance for all their employees. Rather than the death benefit going to the business, it is paid to employee's family in the event of his/her death. This is a benefit that might draw good employees to apply or stay at a certain business, which is an important part of running a profitable business. It also can be very meaningful to the employee's family if death occurs.