Employer realizes FICA savings on amounts deposited. Additional Term Life Insurance Allows employees to purchase life insurance on their dependents, in multiples of salary. Coverage allowed for the spouse is half the amount of the employee's coverage. Coverage for children is an inexpensive flat rate, regardless of the number of children. Encourages employees to purchase voluntary life insurance, reducing Employer's cost.
Coverage is portable.
Coverage does not integrate with any other types of insurance. Pays in addition to health insurance for covered medical expenses. Two levels of coverage are offered. Premiums are reasonably priced. Coverage is portable.