Wholesale life insurance is a policy that is offered at a reduce rate often marketed for a group of people. People who are business owners and have many employees, executive administrators looking to expand the company's employees' benefit packages, and employees looking for an inexpensive way to purchase life insurance will be interested to know they can find cheap wholesale life insurance. These types of policies are a cost effective way to provide an added benefit to attract and retain employees.
Typically, employers will purchase these policies outright and give them to the employees as part of a benefit package. An employer also may decide to pay a part of a whole life insurance policy and require the employee to purchase the remaining portion. Or, the employer may choose to arrange for their employees to completely purchase a cheap wholesale life insurance policy through the company. Some employers will pay for one policy for their employees and allow the employees to buy additional policies for the spouses and minor children.
Generally, the employees have two options when purchasing life policies. Either the employee can be the policy holder or their employer can be the policy holder. Usually if the employer has purchased the cheap wholesale life insurance policy or co-purchased the policy, the employer will be the policy holder. However, if the employee has purchased the policy, they will be the policy holder. Employers, in order to offer inexpensive wholesale life insurance, must have a minimum of five employees with a maximum of fifty employees. Some companies offering wholesale plans want a minimum of ten employees per company.
Although we can be certain that "the Lord shall preserve thee from all evil: he shall preserve thy soul," (Psalm 121:7) people also need to take practical measures to make sure a family will be provided for in the case of a death. Therefore, many feel that being insured is necessary for everyone, because it will assist a family or who ever will handle the affairs when the primary breadwinner has passed away. Having cheap wholesale life insurance will ensure that a person's loved ones will have the necessary funds to pay for a funeral, burial arrangements, pay off any debts, help to support any children, etc. If someone is unsure as to how much coverage is needed, it would be best to contact the insuring company and speak with an agent. They are qualified and trained to recommend an appropriate amount of wholesale life insurance for individual situations.
For more information: http://www.christianet.com/lifeinsurance
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