New answer on: What Is Voluntary Life Insurance Coverage?

By: Peggy Mace

Peggy Mace — Fri, 07 Jun 2013 15:30:18 +0000

Voluntary life insurance is life insurance offered at the place employment that employees (or employees' family members) purchase out of their own pockets. The premiums for voluntary life insurance are not paid by the employer. A certain amount of coverage is guaranteed issue for the employee; beyond that amount health questions must be answered. Family members usually need to qualify medically.

By: Larry Gilmore

Larry Gilmore — Fri, 07 Jun 2013 05:11:17 +0000

What is voluntary life insurance? Voluntary life insurance is usually something you'll find in the workplace offered through your employer's HR office. The voluntary means it's an optional benefit choice for an employee. Usually voluntary life is sold on a guaranteed basis with little to no underwriting. Again since the few questions, the higher the cost or the lower the benefit.