New York-based MetLife has developed a new Web-based benchmarking tool that enables employers to determine how the life insurance benefits they offer employees compare with other companies. The tool, which can be accessed at www.metlifeiseasier.com/lifedemo, also provides best practice suggestions for employers to get the most out of their group life benefit plans. More than one-third of Americans with financial dependents don't have any life insurance protection at all, and of employees who do have coverage, 30% have coverage less than one time their household income, according to Michael Witwer, MetLife vice president, Life Product Management. Because most people purchase life insurance through the workplace, MetLife sees employers as playing a critical role in closing the underinsured gap.
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