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
Updated to incorporate the state paid family and medical leave law, with contribution collections beginning January 1, 2019.
Updated to include information regarding the forthcoming effective date for the retaliation and notice-posting provisions of the paid family and medical leave law.
Updated to reflect forthcoming amendments related to filing claims for TDB and FLI.
Updated to reflect a forthcoming amendment to the state paid family leave law.
Updated to include the state paid family leave benefits law, effective January 1, 2018.
Updated to incorporate the Universal Paid Leave Amendment Act of 2016, effective April 7, 2017.
In-depth review of the spectrum of New York employment law requirements HR must follow with respect to taxation of employee compensation.
In-depth review of the spectrum of California employment law requirements HR must follow with respect to taxation of employee compensation.
Updated to incorporate a law encouraging employers to offer a group disability income protection plan, effective July 29, 2016.
In-depth review of the spectrum of Maryland employment law requirements HR must follow with respect to insurance and disability benefits.
HR guidance on life insurance coverage.