Insurance FAQ’s: What is Erie LifeWorks?

Enhance Your Employee Benefits with Erie LifeWorks

As businesses continue to evolve, offering a competitive benefits package is crucial for attracting and retaining top talent. One such benefit that can truly set your company apart is Erie LifeWorks, a voluntary supplemental life insurance program from Erie Insurance that allows your employees to secure valuable life insurance for themselves and their loved ones. Here’s a closer look at how Erie LifeWorks can enhance your employee benefits package with minimal cost to your business.

What is Erie LifeWorks?

Erie LifeWorks is a voluntary, supplemental life insurance program designed to complement your existing employee benefits. Unlike traditional life insurance policies, Erie LifeWorks is employee-paid, which means there are no additional direct costs to your business. It’s an affordable, convenient way to offer employees valuable life insurance coverage, providing them with financial peace of mind without burdening the company.

Why Should You Offer Erie LifeWorks?

1. Boost Your Employee Benefits Package

   • Adding Erie LifeWorks to your benefit offerings helps make your company more attractive to both prospective and current employees. Offering supplemental life insurance is an easy way to enhance your benefits package, showing employees that you care about their financial security. It also helps retain top talent by providing a competitive edge over businesses that don’t offer similar coverage.

2. Convenient and Affordable

   • Erie LifeWorks makes it simple for employees to enroll and maintain their coverage. Premiums are deducted directly from their payroll, making payments convenient and hassle-free. Plus, since it’s voluntary, employees can select coverage that fits their budget without adding costs to your company’s bottom line.

3. No Physical Exams or Tests

   • The enrollment process is fast and straightforward. There are no physical exams or medical tests required, which makes signing up quick and easy. Employees simply answer a handful of questions and choose the coverage that fits their needs, ensuring a smooth, efficient process.

Coverage Options Tailored to Your Employees

Erie LifeWorks offers a range of life insurance options, so employees can select the plan that works best for them. Coverage options include:

• 20-Year Term or Whole Life Insurance Policies Employees can choose between a 20-year term policy or a whole life policy, depending on their preferences and long-term goals.

• Coverage Amounts Ranging from $5,000 to $250,000 Depending on the policy and the employee’s age, coverage amounts can range from $5,000 to $250,000, providing flexible options for various needs.

• Dependent Coverage Employees can also insure their spouses and children, ensuring their loved ones are covered in the event of an unexpected loss.

• Policy Ownership One of the unique benefits of Erie LifeWorks is that employees maintain ownership of the policy. This means they can continue their coverage, even if they leave your employment, as long as they continue to pay the premiums.

The Benefits to Your Business

By adding Erie LifeWorks to your employee benefits package, you’re not just offering life insurance — you’re demonstrating a commitment to the well-being of your team. A comprehensive benefits package helps:

• Attract high-quality candidates who value the security and peace of mind that supplemental life insurance provides.
• Retain top performers by offering valuable benefits that go beyond the standard offerings from other employers.
• Simplify administration with easy payroll deductions and a straightforward enrollment process.

How to Get Started

Erie LifeWorks is available to employees who work at least 25 hours per week. If you’re interested in enhancing your business’s benefits package, contact us today to learn more about whether your company is eligible for the program. We’ll provide detailed information and help you navigate the enrollment process, ensuring a smooth implementation for both you and your employees.

Conclusion

Offering Erie LifeWorks is a simple, affordable way to give your employees valuable life insurance coverage while boosting your benefits package. With no direct costs to your business, minimal administrative hassle, and a range of flexible options for employees, it’s an easy decision for companies looking to provide additional financial security. Talk to us today and see how Erie LifeWorks can work for your team.

If you’re a small business owner, we’d love to talk to you about the specific risks your businses faces and how we can help you protect it. Every one of our protection advisors is an expert in business insurance. Contact us here and let’s get started!

A little more about Holley Insurance…

Holley Insurance was founded in 2000, and retains a core base of loyal clients. We have locations in Roanoke, Rocky Mount, and Forest, VA. As an independent insurance agency, Holley Insurance represents a carefully selected group of financially strong, reputable insurance companies. Therefore, we are able to offer you the best coverage at the most competitive price. Holley Insurance was named “Top Insurance Broker in Southwest Virginia” by Virginia Living Magazine for 2021.