Insurance premiums charges are based on the coverage volume per product. A product's coverage volume is calculated based on an employee’s salary and your company’s insurance plan design.
Example: Your employee, John Smith, has an annual salary of $100,000 and their Life Insurance volume is set to twice their annual salary. Therefore, their Life Insurance volume is $200,000. In this example, the premium for Life Insurance is $10 per $10,000 of coverage, which means that John’s monthly Life Insurance premium will be $200.
These fees will vary based on employee’s coverage amounts.