life insurance products

Group and Dependant Life Insurance
Providing group term life insurance is an economical way for employers to provide a quality benefit that employee’s value and appreciate. Group life insurance plans are designed to cover your full-time workers. If dependent coverage is included in the group life contract, covered employees can elect coverage for their eligible dependents.

Offering dependant life insurance is an affordable benefit for your employees and a convenient way to purchase life insurance. As an employer, your cost is minimal, but the benefit to employees is enormous. Dependant life insurance may be the only life insurance that your employees may have for their family.

Key Person Insurance
Key person life insurance is an affordable way to prevent your business from sinking after a critical employee passes away. It works like individual life insurance but instead of an individual insuring himself or a family member, the business owns the policy and pays the premium. If the insured dies, the business is the beneficiary and will receive the policy payout. To ensure the livelihood of the company, the money can be used to pay off debt and find a replacement for the deceased, buy out the deceased's shares in the company (buy-sell agreement), or even help to supplement the income of the deceased's family.

If you have more that one owner in your business, whether you are structured as a partnership, corporation or LLC, you must have succession planning. The buy/sell agreement is a provision within the partnership or shareholder agreement that deals with the issues relating to how the business will be distributed in the event one partner or shareholder exits the business. This portion is often funded by insurance. Contact the Locklin Group for expert insurance advice.

Accidental Death and Dismemberment
If the benefit is included on your group contract, and an insured employee dies as a result of accident, the plan will pay an additional amount equal to the life insurance benefit. In the event the employee loses a hand, foot or sight of an eye, the plan will pay an amount equal to one-half the life insurance benefit for a single loss or the full benefit for any combination of multiple losses. Learn how Accidental Death and Dismemberment can be an affordable insurance benefit for your employees by calling the Locklin Group.

Insurance Providers
We work with an ever-growing list of top ranked insurance companies that meet the needs of small business owners.

• UPMC
• Highmark Blue Cross Blue Shield
• Hartford Insurance
• HealthAmerica
• Aetna
• AFLAC
• Prudential Insurance Company