Overview: Life insurance is a common benefit offered by employers to their employees. Employees who get life insurance can designate a beneficiary to receive payments on their policy in the event of their death.
With limited exceptions that are stated in the policy (a common example being suicide), the covered individual's beneficiary will receive payment if the insured dies for any reason. Getting the coverage helps reassure the policy holder that his or her family will be protected from an abrupt loss of income.
Trends: In many states, laws have been created that keep employers from discriminating against employees or potential employees for off-duty participation in undesirable but legal conduct, such as smoking. However, when it comes to life insurance, some of those laws do allow higher premiums for smokers.
Ashley Shaw, JD, Legal Editor
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