A national survey of benefits offered in nonprofit organizations clearly demonstrates that larger organizations are more likely to provide reasonably priced group life insurance to their employees. Only 29% of organizations with budgets under $250,000 offer life insurance, while life insurance is offered in 98% of organizations with budgets over $10,000,000.
If you've been looking for Group Term Life to offer to your employees, but have been told that your business doesn't qualify or the premium is more that you want to pay, Maryland Nonprofits has a solution. If you are an employer group of two or more, and a Maryland Nonprofits member, you are eligible for affordable Group Life. Maryland Nonprofits sponsors a comprehensive life insurance program on a guaranteed issue basis (no medical underwriting needed) exclusively through Gorges & Co.
Group Term Life and AD&D plans can be written for 100%, 200% or 300% of an employee's salary (or in increments of $10,000) up to a maximum $130,000. Coverage is guaranteed issue at $15,000, $30,000 or $50,000 depending on the size of your group at time of enrollment.
To inquire, please email the following information to Allison Albert:
- Company contact information (address, phone, general email)
- Number of employees that will be covered by insurance
- Hours worked by each employee (must be at least 20+/week)
- Dates of birth for each enrolling employee