A Term Life Insurance Policy Can Be a Welcome Perk For an Executive
Executives these days are coming under more scrutiny by shareholders for exorbitant salaries and stock option rewards. However, there is no lessening of demand for the top performers for corporate lead roles. One way to lure the best managers and executives is by offering perks that aren’t being offered by your competitors. One sure enticement is a company paid life insurance policy.
A policy holder of term life insurance is usually the insured person, but it may also be a relative of the insured, a partnership or a corporation. The company need only be concerned with making premium payments for the duration of employment of the executive who is the insured person. Upon leaving the company, payments on the person’s insurance would cease, as would the insurance coverage.
The ease of getting term life insurance quotes allows the company Human Resources Director to quickly compare term life rates to find the most affordable term insurance cost for the executive prospect being considered. The process can be completed by going online to any of the various insurance quote sites that are presented by searching for term life insurance. The opening page usually has a easy to use and easy to understand quote form. The information the HR Director needs to know about the prospect is generally date of birth, state of residence, whether the person to be insured is a smoker or non-smoker, the desired amount of coverage, the required term of the policy, the gender of the insured and whether premium payments are to made monthly or yearly. Submitting the request will initiate a comparison of dozens of insurance providers and the response takes but seconds. Term rate quotes for various coverage amounts and term lengths can be accomplished in minutes.
An executive prospect will value a term life insurance perk in a contract offer. Will it be enough to sway the decision to accept the position? Sometimes it will.