Built around employee financial security
Strengthening your benefits program with group life insurance
Group life insurance helps employers provide meaningful financial protection for employees’ families while reinforcing the value of a robust benefits program. By offering coverage through the workplace, organizations can make life insurance more accessible, affordable, and easier for employees to maintain.
How group life insurance works
A practical benefit for employees and employers
Group life insurance is employer-sponsored coverage that provides a tax-free payment to an employee’s named beneficiaries if the employee dies while covered under the plan.
The organization purchases and administers the policy for eligible employees, while participating employees choose the beneficiaries who would receive the death benefit.
Group life insurance can benefit both employees and the organization:
For employees – Helps provide reassurance that their loved ones will be supported if they die.
For organizations – Supports a competitive benefits offering that can help attract and retain employees.
Explore group life insurance coverage options
Navacord helps organizations design, implement and manage group life insurance within a broader employee benefits program, giving employees access to meaningful financial protection through the workplace.
Term life insurance
Group life insurance is typically provided as term life coverage, with rates reviewed each year based on the demographics of the employee group. The benefit amount may be structured as a flat amount or as a multiple of annual salary.
Guaranteed coverage
Depending on the size and structure of your organization, eligible employees may be able to access coverage without completing medical questions or exams, making it easier to provide protection for their families.
Cost-effective protection
Because pricing is based on the characteristics of the employee group, group life insurance may be more cost-effective than individual life insurance coverage.
Why work with Navacord
A trusted partner for group life insurance
Navacord works with organizations to develop, roll out and administer group life insurance solutions that complement their overall employee benefits offering, helping provide meaningful support for employees and their families.
Independent advice
As an independent Canadian organization, Navacord provides objective guidance shaped by your workforce, budget, and benefits priorities.
Tailored plan design
Our advisors help structure coverage that aligns with employee needs and organizational goals, with clear recommendations that make plan decisions easier.
Ongoing support
From implementation to renewal, Navacord works alongside your team to help keep your group life insurance program streamlined, cost-effective and aligned with your benefits strategy.
