|

Wisconsin Life Insurance: What you need to know

Employers have no obligation under Wisconsin law to offer life insurance to their employees. However, if group life insurance is among the benefits offered to workers, certain minimum requirements must be satisfied (WI Stat. Sec. 632.56, Sec. 632.57).
For a Limited Time receive a FREE HR Report on the "Critical HR Recordkeeping”.  This exclusive special report covers hiring records, employment relationships, termination records, litigation issues, electronic information issues, tips for better recordkeeping, and a list of legal requirements.  Download Now
Group characteristics. There is no minimum on the number of people needed to form a group. Group members need not necessarily all be employed by the same organization, but the group must have been formed for some reason other than merely to obtain life insurance.
Employer/employee contributions. Employers are not required to make any contribution toward the cost of group insurance.
Conversion. Employees are guaranteed the right to convert group coverage to an individual policy in the event that the worker's employment is terminated or the worker ceases for any other reason to be a member of the class eligible for coverage. If the group policy terminates or is amended so as to terminate the insurance of any class of employees, individuals who have been covered for at least 5 years must be allowed to convert to an individual policy. The group policy may provide that the maximum amount of insurance available if the policy terminates is at least $2,000 without a conversion charge and/or an additional amount of at least $3,000 if the insuree pays the insurer's usual conversion charge on the additional amount. Employees have 31 days after termination of coverage to apply in writing and pay the first monthly premium for conversion coverage.
Extension of claims. If a person insured under the group policy dies during the conversion period and before an individual policy is effective, the amount of insurance that the person would have been entitled to ...

>> Read more about Life Insurance

More on this topic:

State Requirements

National | Alabama | Alaska | Arizona | Arkansas | California | Colorado | Connecticut | Delaware | District of Columbia | Florida | Georgia | Hawaii | Idaho | Illinois | Indiana | Iowa | Kansas | Kentucky | Louisiana | Maine | Maryland | Massachusetts | Michigan | Minnesota | Mississippi | Missouri | Montana | Nebraska | Nevada | New Hampshire | New Jersey | New Mexico | New York | North Carolina | North Dakota | Ohio | Oklahoma | Oregon | Pennsylvania | Rhode Island | South Carolina | South Dakota | Tennessee | Texas | Utah | Vermont | Virginia | Washington | West Virginia | Wisconsin | Wyoming |

Wisconsin Life Insurance Resources

There are currently no resources for this topic/state.

Life Insurance Products

Encyclopedia of Employee Handbooks
This practical tool gives you everything you need to create a customized employee handbook for your company. Includes tips on how to select your format, style and topics, how to prepare your handbook, and samples of employee handbooks and HR policies being used in actual companies. "
Healthcare Reform Webinar Recording
BLR Webinar: "Healthcare Reform: What the New Legislation Means for Employers; Get Prepared Now""
Safety Culture Webinar Recording
BLR Webinar: "Safety Culture: How To Assess – and Improve – Your Organization’s Safety Policies and Practices""
Global Rewards Webinar Recording
BLR Webinar: "Global Rewards: Practical Approaches to Successful Multinational Rewards Strategies""
Employee Benefits Webinar Recording
BLR Webinar: "Employee Benefits: How to Explain Your Offerings to Employees and Convey a Strong Sense of Value""
Free Special Reports
Get Your FREE HR Management Special Report. Download Any One Of These FREE Special Reports, Instantly!
Featured Special Report
Claim Your Free Copy of Critical HR Recordkeeping

Record retention is complex and time consuming. However, in addition to complying with various federal and state laws, keeping good, well-organized records can be very helpful in documenting and supporting an organization’s employment actions.
Download Now!


This special report will discuss how you can ensure your records are in good order, and establish a record-retention policy.

Topics covered:
1. Hiring Records
2. Employment Relationships
3. Termination Records
4. Litigation Issues
5. Electronic Information Issues
6. Tips for Better Recordkeeping
7. A List of Legal Requirements

Make sure you have the information you need to know to keep your records in order.