Voluntary Group Term Life Insurance Voluntary Group Term Life Insurance Colonial's voluntary group term life product helps meet financial obligations by providing valuable life insurance coverage. This group product is sold on a payroll deduction basis and allows employees to select from several coverage options. What this product can do for employers Employers can increase the value of their benefits program with a voluntary term life insurance plan that helps provide security for employees and their families at attractive rates. Employers can choose from various plan design options to best meet the needs of their employees.
Helps attract and retain employees by providing flexible life insurance options.
Makes their plan more comprehensive without adding direct costs to the company. What this product can do for employees Only 43 percent of adults have individual life insurance policies 1 . This plan makes it affordable for employees to purchase life insurance that protects their families when it is needed the most. Accelerated death benefit for insured employee, spouse and children. Life coverage is available for eligible spouse and dependent children.