Employee Life Insurance Solutions

Today, offering workplace life insurance products that help both employers and employees deal with the rising cost of traditional benefits isn’t just good business, it’s the right thing to do. At Boston Mutual Life Insurance, we understand that we’re all in this together, and together, we can help provide a measure of financial security for the people that matter most to you.

What is Employee Life Insurance?

Employee Life Insurance provides protection against the economic loss caused by the death of the person insured. Simply put, employee life insurance provides a lump sum payment (sometimes known as a death benefit) to beneficiaries in the event of the insured’s death. The amount of premium paid for this coverage varies based on the type of life insurance, the amount of coverage, and other factors. Employee Life Insurance traditionally is paid for by an employer as part of their employee’s benefit package. Voluntary Life Insurance is typically purchased based on the needs and goals of the individual wanting to insure his/her life. Life Insurance can help replace lost income due to death. This money can also help to pay funeral costs, medical expenses not covered by health insurance, and other outstanding debts.

Our Employee Life Insurance Offerings

Boston Mutual Life Insurance offers flexible workplace life insurance products for employers to offer their employees. If you would like to learn more about the products below or find out about the Boston Mutual Life Insurance benefits available to you through your workplace, contact your benefits coordinator or your company’s HR department.

For more information on Boston Mutual Life Insurance benefits available outside of our workplace offerings, or if benefits at work currently aren’t an option, click here to speak with a representative in our individual life insurance sales division:

Are you an agent looking to add Boston Mutual Life Insurance to your product portfolio?

 

Employee Life Option Plus – Whole Life Insurance

Whole Life insurance, sometimes referred to as permanent or interest sensitive life insurance, is more than just life insurance at an affordable price. It combines the guaranteed premiums, coverage, and values that have always been so attractive in whole life insurance with the advantages of cash accumulation at current interest rates. Our whole life workplace insurance, Employee Life Option Plus, is an endowment at age 95 life insurance policy, which means the face value would be paid to the insured, if living, at age 95. With whole life coverage, the employee chooses the amount of insurance or the amount of premium that best suits their needs and budget.

Employee Life Option Plus is underwritten by Boston Mutual Life Insurance Company (Canton, MA) in all states, except New York, under Policy Series* ICC20 END-95(ESO)(9/20), END-95(ESO)(9/20) and END-95(ESO)(2/21), subject to state availability. Product offerings may vary depending on state laws and regulations. This information is not intended to be a complete description of the insurance coverage available. Policies have exclusions and limitations which may affect any benefits payable. For complete details of coverage and availability, please refer to the policy form or contact your Boston Mutual Life Insurance representative. Value-added services are not insurance and are offered only on specific lines of coverage. Boston Mutual Life Insurance is not responsible or liable for care, services, or advice given by any provider or vendor of the Services. Boston Mutual Life Insurance reserves the right to discontinue any of the Services at any time. *For the Compact it is “ICC20 END-95(ESO)(9/20)”. For the Non-Compact states (California, Delaware, North Dakota), it is “END-95(ESO)(9/20)”, or if it is Florida, New York or South Dakota it is "END-95(ESO)(2/21)".
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Term Life Insurance

Term life insurance coverage is where the benefit is payable only if the insured dies during a specified period. This coverage is less costly than other types of life insurance as there is no cash value build-up.

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Group Term Life and Accidental Death & Dismemberment Insurance

Our Group Term Life and Accidental Death & Dismemberment Insurance program offers many combinations of coverage options to meet both employer and employees’ insurance needs. You can elect to purchase basic coverage for your employees, such as a multiple of salary benefit or a flat amount. You can also offer a voluntary plan where your employees choose the benefit amount they wish to purchase, often without needing to provide evidence of good health. These products may be offered together or on a stand-alone basis.

Group life policies are underwritten by Boston Mutual Life Insurance Company (Canton, MA) in all states, except New York, under Policy Form Series BML GRTP 4/99, subject to state availability. Product offerings may vary depending on state laws and regulations. This information is not intended to be a complete description of the insurance coverage available. Policies have exclusions and limitations which may affect any benefits payable. For complete details of coverage and availability, please refer to the policy form or contact your Boston Mutual Life Insurance representative.Value-added services are not insurance and are offered only on specific lines of coverage. Boston Mutual Life Insurance is not responsible or liable for care, services, or advice given by any provider or vendor of the Services. Boston Mutual Life Insurance reserves the right to discontinue any of the Services at any time.
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Accident Insurance

Group Accident Coverage or Employee Accident Option Plus

If the unexpected occurs, protection means a lot of things, but having financial resources can be meaningful during those times. Accident insurance can pay cash benefits when the unforeseen happens. This coverage is made available to eligible employees and union members on a voluntary basis. The premium is typically deducted from the employee's paycheck.

 

Click here to see a few examples of sample benefit payments.

Group Accident Coverage is underwritten by Boston Mutual Life Insurance Company (Canton, MA) in all states, except New York, under Policy Form Series WPS-ACC 07/15, subject to state availability. Employee Accident Option Plus policies are underwritten by Boston Mutual Life Insurance Company (Canton, MA) in all states, except New York, under Policy Form Series WS -ACC 8/08, subject to state availability. Group Accident Coverage and Employee Accident Option Plus are limited benefit policies. They do NOT provide basic hospital, basic medical, or major medical insurance. This information is not intended to be a complete description of the insurance coverage available. Product offerings may vary depending on state laws and regulations. Policies have exclusions and limitations which may affect any benefits payable. Benefits payable are subject to all terms and conditions of the Policy. For complete details of coverage and availability, please refer to the policy form or contact your Boston Mutual Life Insurance representative.
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Critical Illness Insurance

Employee Critical Illness Plus – Critical Illness/Specified Disease Insurance

Protecting family can mean a lot of things, and to have financial resources can be meaningful during those times. Boston Mutual Life Insurance’s Critical Illness coverage pays a lump sum cash benefit directly to the employee upon the diagnosis of a covered condition on the plan. This coverage is made available to eligible employees and union members on a voluntary basis. The premium is typically deducted from the employee's paycheck.

  * In California or Massachusetts, you must have a health benefit plan in order to purchase this insurance. Critical Illness/Specified Disease insurance policies are underwritten by Boston Mutual Life Insurance Company (Canton, MA) in all states, except New York, under Policy Form Series WS-CI 4/12, subject to state availability. Product offerings may vary depending on state laws and regulations. ECIP is a limited benefit policy. It does NOT provide basic hospital, basic medical, or major medical insurance. This information is not intended to be a complete description of the insurance coverage available. Policies have exclusions and limitations which may affect any benefits payable. Benefits payable are subject to all terms and conditions of the Policy. For complete details of coverage and availability, please refer to the policy form or contact your Boston Mutual Life Insurance representative.
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Disability Insurance

Disability Insurance, often called DI, Disability Income Insurance, or income protection, is a type of health insurance designed to compensate insured people for the income that is lost because of a disabling injury or illness. Many employers provide their employees with group disability insurance coverage. Disability Insurance may be purchased and paid for by an employer, employee or a combination of both.

Short Term Disability Insurance

Employee Disability Option Plus

This coverage is made available to eligible employees and union members on a voluntary basis. The premium is typically deducted from the employee's paycheck. This Voluntary Disability product is priced with Issue Age rated benefits and provides flexible plan design options for income protection that will help employees cover expenses while they are disabled.

Employee Disability Option Plus is underwritten by Boston Mutual Life Insurance Company (Canton, MA) in all states, except New York, under Policy Form Series BML WS-DI 06/11, subject to state availability. Product offerings may vary depending on state laws and regulations. This information is not intended to be a complete description of the insurance coverage available. Policies have exclusions and limitations which may affect any benefits payable. For complete details of coverage and availability, please refer to the policy form or contact your Boston Mutual Life Insurance representative.
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Group Voluntary Short Term Disability

This coverage is made available to eligible employees and union members on a voluntary basis. The premium is typically deducted from the employee's paycheck. This Voluntary Disability product is priced with Attained Age rated benefits and provides flexible plan design options for income protection that will help employees cover expenses while they are disabled.

Group Voluntary Short Term Disability is underwritten by Boston Mutual Life Insurance Company (Canton, MA) in all states, except New York, under Policy Form Series GDP 100 and GDP 5/10, subject to state availability. Product offerings may vary depending on state laws and regulations. This information is not intended to be a complete description of the insurance coverage available. Policies have exclusions and limitations which may affect any benefits payable. For complete details of coverage and availability, please refer to the policy form or contact your Boston Mutual Life Insurance representative.Value-added services are not insurance and are offered only on specific lines of coverage. Boston Mutual Life Insurance is not responsible or liable for care, services, or advice given by any provider or vendor of the Services. Boston Mutual Life Insurance reserves the right to discontinue any of the Services at any time.
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Employee Paid Federal/Postal

Disability Income Protection Insurance with Accidental Death and Dismemberment Benefits. This coverage is made available to benefit Federal, Postal, Municipal and State employees and the premiums are typically paid through Allotments (payroll deductions). This Individual Disability product is designed to provide short-term monthly disability income protection that will help cover employee’s expenses while they are disabled due to sickness or injury. It also offers a Hospital Confinement Indemnity benefit that will pay a benefit if hospitalized due to injury or sickness, and an Accidental Death and Dismemberment benefit that will pay a benefit if death occurs as a result of an accident.

State variations may apply to benefits and features available for this insurance product. Product may not be available in some states. Employee Paid Federal/Postal policies are underwritten by Boston Mutual Life Insurance Company (Canton, MA) in all states, except New York, under Policy Form Series DI-TP 7/05, subject to state availability. Product offerings may vary depending on state laws and regulations. This information is not intended to be a complete description of the insurance coverage available. Policies have exclusions and limitations which may affect any benefits payable. For complete details of coverage and availability, please refer to the policy form or contact your Boston Mutual Life Insurance representative.  
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Group Short Term Disability

This coverage is made available to benefit eligible employees and the premium is typically paid all or in part by the employer. This Disability product is priced with Attained Age rated benefits and provides flexible plan design options for income protection that will help employees cover expenses while they are disabled.

Group Short Term Disability is underwritten by Boston Mutual Life Insurance Company (Canton, MA) in all states, except New York, under Policy Form Series GDP 100 and GDP 5/10, subject to state availability. Product offerings may vary depending on state laws and regulations. This information is not intended to be a complete description of the insurance coverage available. Policies have exclusions and limitations which may affect any benefits payable. For complete details of coverage and availability, please refer to the policy form or contact your Boston Mutual Life Insurance representative. Value-added services are not insurance and are offered only on specific lines of coverage. Boston Mutual Life Insurance is not responsible or liable for care, services, or advice given by any provider or vendor of the Services. Boston Mutual Life Insurance reserves the right to discontinue any of the Services at any time.
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Long Term Disability Insurance

Employee Disability Option Plus

This coverage is made available to eligible employees and union members on a voluntary basis. The premium is typically deducted from the employee's paycheck. This Voluntary Disability product is priced with Issue Age rated benefits and provides flexible plan design options for income protection that will help employees cover expenses while they are disabled.

Employee Disability Option Plus is underwritten by Boston Mutual Life Insurance Company (Canton, MA) in all states, except New York, under Policy Form Series BML WS-DI 06/11, subject to state availability. Product offerings may vary depending on state laws and regulations. This information is not intended to be a complete description of the insurance coverage available. Policies have exclusions and limitations which may affect any benefits payable. For complete details of coverage and availability, please refer to the policy form or contact your Boston Mutual Life Insurance representative.
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Get Started with Employee Life Insurance Today!

If you would like to learn more about these products or find out about the Boston Mutual Life Insurance benefits available to you through your workplace, contact your benefits coordinator or your company’s HR department.

For more information on Boston Mutual Life Insurance benefits available outside of our workplace offerings, or if benefits at work currently aren’t an option, click here to speak with a representative in our individual life insurance sales division:

Are you an agent looking to add Boston Mutual Life Insurance to your product portfolio?