Page 60 - 2020 Peel & Holland Benchmarking Survey Results
P. 60
LIFE INSURANCE
Is the employee Group Term Life insurance benefit flat dollar amount or multiple of salary?
GROUP TERM LIFE INSURANCE Type Percent Count
Do you offer employees and/or management a Group Term Life insurance plan? Is the employee Group Term Life
Flat Dollar
Do you offer employees a
29
Amount
59%
Multiple of
49
Group Term Life insurance plan? insurance benefit a flat dollar
2
96%
20
Salary
41%
Yes 4%
No
4% amount or multiple of salary?
No
96% 100%
Yes
80% 41%
Multiple of Salary
60%
40%
20% 59%
Flat Dollar Amount
0%
Who is your Group Term Life insurance carrier?
Allstate 2%
Anthem 20%
Cincinnati Life 4%
Colonial Life 4%
Companion Life 4%
Lincoln Financial 15%
MetLife 7%
Mutual of Omaha 9%
Nationwide 2%
OneAmerica 9%
Principal 9%
Reliance Standard 2%
The Hartford 2%
Unum 7%
Voya Life 2%
Other: Private Trust 2%
0% 5% 10% 15% 20% 25%
58 PEEL & HOLLAND | 2020 Western Kentucky Employee Benefits Benchmarking Survey Results
