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Group Life Insurance Explained
Most group life insurance plans offered by a company will be term life insurance coverage. Group life insurance policies are typically offered without requiring any medical exams of employees. A term life insurance policy is paid only if the death of an employee happens while employed and while coverage is active.
About 40% of companies choose a "flat-dollar amount" of group life insurance coverage, while over 50% choose a "fixed-multiple of earnings" plan. Part-time workers, union workers and workers with wages under $15/hour are usually in flat-dollar amount plans, while management is in a fixed-multiple of earnings plan.
Group life insurance coverage has become an expected fully paid employee benefit by employees of medium and large companies in the United States.
Most group life insurance plans offered by a company will be term life insurance coverage. Group life insurance policies are typically offered without requiring any medical exams of employees. A term life insurance policy is paid only if the death of an employee happens while employed and while coverage is active.
About 40% of companies choose a "flat-dollar amount" of group life insurance coverage, while over 50% choose a "fixed-multiple of earnings" plan. Part-time workers, union workers and workers with wages under $15/hour are usually in flat-dollar amount plans, while management is in a fixed-multiple of earnings plan.
Group life insurance coverage has become an expected fully paid employee benefit by employees of medium and large companies in the United States.
Business Liability Insurance
Advertising Injury
If your business is ever sued for something that happens while advertising a product or service, business liability insurance will cover the claim. Examples of such advertising injuries include the following.
Infringing on another business’s title, slogan or copyright
Publishing material that violates an individual’s privacy rights
Publishing, in writing or verbally, false information that slanders or libels an organization or person
Copying another company's style of doing business or advertising concepts
Many small business owners discover that clients require them to have business or general liability insurance before they’ll sign a contract. This means that having the right insurance coverage in place can make a major difference in a business owner’s ability to grow.
Advertising Injury
If your business is ever sued for something that happens while advertising a product or service, business liability insurance will cover the claim. Examples of such advertising injuries include the following.
Infringing on another business’s title, slogan or copyright
Publishing material that violates an individual’s privacy rights
Publishing, in writing or verbally, false information that slanders or libels an organization or person
Copying another company's style of doing business or advertising concepts
Many small business owners discover that clients require them to have business or general liability insurance before they’ll sign a contract. This means that having the right insurance coverage in place can make a major difference in a business owner’s ability to grow.
Commercial Auto Insurance
A commercial auto insurance policy serves as protection against liability for bodily injury and property damage related to your ownership, maintenance, or use of vehicles involved in doing business.
Commercial vehicles that haul oil, hazardous waste or hazardous materials are often required to carry a minimum of $1 million in liability insurance coverage. Also, the products onboard of such materials must be already packaged for retail sale and are to be sold for personal or household use. Additionally, all motor carrier drivers and commercial trucks must maintain a proof of financial responsibility inside the vehicle at all times.
Make certain that you and your insurance agent have a thorough understanding of all requirements for commercial auto insurance related to the type of products that you transport to insure complete and full insurance overage for your business.
A commercial auto insurance policy serves as protection against liability for bodily injury and property damage related to your ownership, maintenance, or use of vehicles involved in doing business.
Commercial vehicles that haul oil, hazardous waste or hazardous materials are often required to carry a minimum of $1 million in liability insurance coverage. Also, the products onboard of such materials must be already packaged for retail sale and are to be sold for personal or household use. Additionally, all motor carrier drivers and commercial trucks must maintain a proof of financial responsibility inside the vehicle at all times.
Make certain that you and your insurance agent have a thorough understanding of all requirements for commercial auto insurance related to the type of products that you transport to insure complete and full insurance overage for your business.