Pay · HR glossary

Life Insurance

Life insurance pays a specified benefit following an insured person's death, subject to the policy's terms. Employers may provide group life coverage as part of benefits.

Example

An employee is covered by a group policy and nominates the appropriate beneficiary through the insurer's required process.

What to keep in mind

Explain coverage amount, eligibility, exclusions and whether cover continues after leaving employment. A benefits summary should not replace the policy wording or imply that every cause or circumstance is covered.

Further reading

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