Group Life Insurance

Business owners in today’s competitive job market recognize the importance of attracting and keeping good employees. Providing group term life insurance is an economical way for employers to provide a quality benefit that employees value and appreciate.

Regardless of the number of employees you have, Erie Family Life Insurance* has a plan designed to cover your full-time workers. All of this can be accomplished through the convenience of one simplified billing statement.

Ultra Group 2 is available to businesses with two to nine employees and Ultra Group 10 is designed for businesses with 10 or more employees. You have the choice of a variety of benefit schedules. Some of the highlights of each plan include:

Ultra Group 2 (two to nine individuals)

• Amount of Coverage – $10,000 to $100,000 per life ($50,000 maximum for group with 2-5 employees). Coverage ceases at age 70, at which time the employee may convert coverage without evidence of insurability to any plan offered by Erie Family Life for group conversion.'
• Continuation of Coverage – Upon termination of employment, the insured employee may continue coverage through an individual term policy without evidence of insurability for so long as the insured continues to pay premiums.
• Waiver of Premium (optional) – Insurance coverage continues with no further premium payments for a covered employee who becomes totally disabled prior to age 60. While the disability continues, the insurance remains in effect up to age 70 just as if premiums were being paid. (Disability must persist for more than six continuous months.)
• Accidental Death Benefit (optional) – If the insured dies as the result of an accident, Erie Family Life will pay an additional amount equal to the life insurance benefit.

Ultra Group 10 (10 or more individuals)

• Amount of Coverage – $10,000 to $150,000 per life. This plan also includes a Waiver of Premium benefit that continues the insurance protection through age 65 with no further premium payments should a covered employee become totally disabled for more than nine months.
• Conversion – Upon termination of employment, a covered employee may convert all or part of their insurance coverage without evidence of insurability to any policy offered by Erie Family Life for group conversion.
• Accidental Death and Dismemberment (optional) – If the benefit is included on your group contract, and an insured employee dies as a result of accident, Erie Family Life will pay an additional amount equal to the life insurance benefit. In the event the employee loses a hand, foot or sight of an eye, Erie Family Life will pay an amount equal to one-half the life insurance benefit for a single loss or the full benefit for any combination of multiple losses.
• Dependant Coverage (optional) – If dependent coverage is included in the group life contract, covered employees can elect coverage for their eligible dependents.

An Added Benefit

Lifeworks_SM Erie Family Life’s voluntary payroll deduction program may be offered in conjunction with our group life insurance plans at no cost to you. Full-time employees may purchase additional life insurance for themselves, their spouse and eligible dependent children and have premiums conveniently deducted from their paycheck. As the employer, you simply agree to let your Erie Insurance Agent meet with each employee and process the scheduled deductions from their paycheck.

Your Erie Family Life Agent can provide a full line of life, commercial and personal insurance protection for all your business and personal needs.

* Erie Family Life products are not available in New York.

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