Make Fillable Legal Georgia Aging Parents Forms For Free

Life insurance offered through your employer is typically term life insurance, not permanent ? so you may have a gap in coverage if you leave your employer or retire.

What Is Employer-Provided Life Insurance? Employer-provided life insurance is group term life insurance that may be offered as part of your employee benefits package. If available, it is an option for all of a company's employees. Term life insurance provides a death benefit for the insured's beneficiary.

The amount of coverage is typically determined using a multiple of an employee's annual salary. Or it may be linked to an employee's position at the company. Usually, employers pay most or all the premiums. Employer-provided life insurance can be a good benefit, especially if you have no other life insurance in place.

You can offer your employees a minimal amount of life insurance (e.g., one to two times an employee's annual salary) and allow employees to purchase optional amounts with low premiums. Since group life insurance is a contract between your company and the insurance company, you can terminate the plan at any time.

Advance directives are legal documents that provide instructions for medical care and only go into effect if you cannot communicate your own wishes. The two most common advance directives for health care are the living will and the durable power of attorney for health care.

In 2007, the Georgia Legislature adopted the Georgia Advance Directive for Health Care Act, which replaced the former Georgia Living Will and the Durable Power of Attorney for Health Care. What had been two separate forms is now one document.