Employee Life Insurance Policies

Our Employee Life Insurance Offerings

Boston Mutual Life Insurance offers flexible workplace life insurance products for employers to offer their employees. If you would like to learn more about the products below or find out about the Boston Mutual Life Insurance benefits available to you through your workplace, contact your benefits coordinator or your company’s HR department.

 

Employee Life Option Plus – Whole Life Insurance

Whole Life insurance, sometimes referred to as permanent or interest sensitive life insurance, is more than just life insurance at an affordable price. It combines the guaranteed premiums, coverage, and values that have always been so attractive in whole life insurance with the advantages of cash accumulation at current interest rates. Our whole life workplace insurance, Employee Life Option Plus, is an endowment at age 95 life insurance policy, which means the face value would be paid to the insured, if living, at age 95. With whole life coverage, the employee chooses the amount of insurance or the amount of premium that best suits their needs and budget.

Employee Life Option Plus is underwritten by Boston Mutual Life Insurance Company (Canton, MA) in all states, except New York, under Policy Series* ICC20 END-95(ESO)(9/20), END-95(ESO)(9/20) and END-95(ESO)(2/21), subject to state availability. Product offerings may vary depending on state laws and regulations. This information is not intended to be a complete description of the insurance coverage available. Policies have exclusions and limitations which may affect any benefits payable. For complete details of coverage and availability, please refer to the policy form or contact your Boston Mutual Life Insurance representative. Value-added services are not insurance and are offered only on specific lines of coverage. Boston Mutual Life Insurance is not responsible or liable for care, services, or advice given by any provider or vendor of the Services. Boston Mutual Life Insurance reserves the right to discontinue any of the Services at any time. *For the Compact it is “ICC20 END-95(ESO)(9/20)”. For the Non-Compact states (California, Delaware, North Dakota), it is “END-95(ESO)(9/20)”, or if it is Florida, New York or South Dakota it is "END-95(ESO)(2/21)".
Show More Details

Term Life Insurance

Term life insurance coverage is where the benefit is payable only if the insured dies during a specified period. This coverage is less costly than other types of life insurance as there is no cash value build-up.

Show More Details

Group Term Life and Accidental Death & Dismemberment Insurance

Our Group Term Life and Accidental Death & Dismemberment Insurance program offers many combinations of coverage options to meet both employer and employees’ insurance needs. You can elect to purchase basic coverage for your employees, such as a multiple of salary benefit or a flat amount. You can also offer a voluntary plan where your employees choose the benefit amount they wish to purchase, often without needing to provide evidence of good health. These products may be offered together or on a stand-alone basis.

Group life policies are underwritten by Boston Mutual Life Insurance Company (Canton, MA) in all states, except New York, under Policy Form Series BML GRTP 4/99, subject to state availability. Product offerings may vary depending on state laws and regulations. This information is not intended to be a complete description of the insurance coverage available. Policies have exclusions and limitations which may affect any benefits payable. For complete details of coverage and availability, please refer to the policy form or contact your Boston Mutual Life Insurance representative.Value-added services are not insurance and are offered only on specific lines of coverage. Boston Mutual Life Insurance is not responsible or liable for care, services, or advice given by any provider or vendor of the Services. Boston Mutual Life Insurance reserves the right to discontinue any of the Services at any time.
Show More Details

 

Employee Life Insurance FAQs

What is Employee Whole Life Insurance?

Employee whole life insurance, sometimes called permanent or interest sensitive life insurance, is offered through the workplace.

What are the benefits of Employee Whole Life Insurance?

With our employee whole life insurance offering, you are able to choose the amount of insurance and premium that best suits your needs and budget.

Whole life insurance also offers family coverage. That means you have the opportunity to also get insurance coverage and build a cash reserve for your spouse, children, and/or grandchildren. It’s a sound way to protect your family without exceeding your present budget.

If you’re single with no dependents, the flexibility of the whole life plan allows you to expand your coverage to meet future responsibilities.

Will my Employee Whole Life Insurance policy rates go up?

If premiums are paid on time, the cost of the whole life insurance policy can never go up.

The cash value of your policy at the time of purchase is guaranteed as long as the coverage stays in force.*
* The actual cash value may be decreased by loans or withdrawals.

What happens if I change jobs or retire?

Even if your employment changes, you can keep this coverage and pay Boston Mutual directly for the premiums.

If you are nearing retirement, obligations and responsibilities have probably changed in the past few years. Now you can think about the next phase of your life. Your whole life plan can be continued after retirement at the same premium to provide you continued coverage for whatever lies ahead for you.

What is Group Term Life Insurance?

Group term life insurance is a low-cost option that allows you to purchase high benefit amounts while actively employed.

While term life insurance is often more beneficial for employees in their early to mid-working years, a permanent life insurance plan that is easy to enroll in and builds cash value may be more beneficial in later years.

What is Accidental Death & Dismemberment Insurance (AD&D)?

Accidental death and dismemberment insurance (AD&D) is an option, called a rider, that can be added to your term life insurance policy. This rider covers the unintentional death or dismemberment of the insured. If the death is due to an accident, the term life insurance benefit is doubled. Dismemberment benefits are payable for loss of eyesight or limbs according to the policy terms.

Accidental death and dismemberment insurance coverage is also available to be added to your coverage for your spouse.

Get Started with Employee Life Insurance Today!

Our No Fee Electronic Fund Transfer (EFT) for employees means eliminating the hassle of billing paperwork for employer groups, unions, and associations, while ensuring a seamless experience for your customers.

FIND OUT ABOUT OUR SIMPLE PLAN HERE

If you would like to learn more about these products or find out about the Boston Mutual Life Insurance benefits available to you through your workplace, contact your benefits coordinator or your company’s HR department.

FIND A WORKPLACE LIFE INSURANCE SALES REP IN YOUR AREA

For more information on Boston Mutual Life Insurance benefits available outside of our workplace offerings, or if benefits at work currently aren’t an option, click here to speak with a representative in our individual life insurance sales division:

FIND AN INDIVIDUAL LIFE INSURANCE SALES REP IN YOUR AREA

Are you an agent looking to add Boston Mutual Life Insurance to your product portfolio?

CLICK HERE TO LEARN MORE ABOUT HOW TO BE APPOINTED WITH US