Typically, a lump sum benefit paid to all employees in the same amount is usually employer sponsored, though it does not have to be. This is known as basic life. On top of that most employers allow the employee to pick up greater amounts of life insurance at their own cost. This is known as voluntary life. These benefit amounts tend to be much higher than basic life. They typically are in the $100,000 to $500,000 range.
Voluntary life is usually purchased by the employee because it is cheaper than buying a term policy, it can be purchased without a physical for amounts under $250,000/$300,000 dollars. For greater amounts, a statement of health is typically the only thing required.
It is important to note that we never charge you for using our services, our commission for assisting you comes from the insurance companies. We act as a broker and run quotes with all of the major carriers guaranteeing you the best rate for the benefits that best suit your needs as an employer.