Why Life Insurance Belongs in a Small Business Benefits Package
September is Life Insurance Awareness Month, making it a good time for employers to consider how life insurance can support their employees and their families.
Life insurance can provide financial protection when a family loses a loved one. It can help beneficiaries manage everyday expenses, replace lost income, pay outstanding debts, and plan for the future during an already difficult time.
Many Americans Still Need More Protection
Approximately 100 million Americans say they need life insurance or need more coverage, according to the 2025 Insurance Barometer Study from LIMRA and Life Happens. Cost remains a common barrier, but many consumers substantially overestimate how much life insurance costs.
Workplace coverage can make life insurance easier to understand and access. Employees can review their options alongside their other benefits and choose coverage based on their needs and budgets.
Approximately 100 million Americans say they need life insurance or need more coverage.
A Valuable Addition to Employee Benefits
A competitive benefits package can play an important role in employee retention. An analysis of Decisely client data found that employees with benefits stayed with their employers for an average of 30 months, compared with 14 months for employees without benefits.
Life insurance can help employers build a more well-rounded package by giving employees another way to protect their families and financial futures. For small businesses competing for talent, this added support can strengthen the employee experience and demonstrate a meaningful investment in their people.
Employers may choose to provide basic term life insurance, give employees the option to purchase voluntary coverage, or offer both. Depending on the plan and carrier, employees may have access to group rates, simplified enrollment, and coverage without medical questions up to certain limits.
Employees with benefits stayed an average of 30 months, compared with 14 months for employees without benefits.
Making Life Insurance Easier to Offer
Plan provisions, participation requirements, coverage limits, and eligibility rules vary. An experienced benefits partner can help employers understand the available options and identify coverage that works for their business and employees.
Decisely helps small businesses explore life insurance and other benefits, manage enrollment, and support employees throughout the process.
Ready to strengthen your benefits package? Talk with Decisely about the options available for your business.
About the Author — Mindy Dunham
Mindy Dunham Cross-Selling Sales Director at Decisely Expertise About the Author Mindy is the Cross-Selling Sales Director at Decisely, where she leads the voluntary benefits program, helping small businesses address key client challenges with the caliber of benefits coverage typically reserved for much larger organizations. With 13 years of experience in the insurance industry, she […]
?