LIFE INSURANCE

A life insurance policy is a contract established with an insurance company. In exchange for premium payments, the insurance company provides a lump-sum payment, known as a death benefit, to beneficiaries in the event of the insured’s death.

Term or Whole Life?

Life insurance is generally chosen based on the needs and goals of the policy owner. Term life insurance is designed to provide financial protection for a specific period of time, such as 10 or 20 years. Permanent insurance, such as whole life and universal life, provides lifetime coverage. Regardless of the type of life insurance, death benefits are generally income tax-free.

Employer Considerations

For employers, offering life insurance is optional – but it should be considered a critical component of any benefits package that is intended to support employees’ financial well being. People need to protect their families, and life insurance gives employees the peace of mind of knowing their loved ones can manage expenses if something were to happen.

We partner with employers to assist them in making choices regarding whom to cover, what type of life insurance benefits to offer and the right amount of coverage. The goal is to help you select from a variety of providers, products and funding options to provide employees with the most comprehensive group life insurance program possible while keeping an eye on their bottom line

In addition, organizations can set themselves apart by offering key employees additional life insurance benefits. Deferred Compensation and Split Dollar plans area often used to retain and entice employees.  

EBA Group can help individuals and families sort it out

EBA Group helps individuals understand the ins and outs of choosing an insurer, understanding how premiums are calculated and determining the right amount of coverage for you and your family.

CALL US

Tel: 201-255-6239 

Fax: 844-773-9459

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442 Teaneck Road, Ridgefield Park, NJ 07660