There are other types of insurance that you can offer besides group-term life, including: Group accidental death Business travel and dismemberment. accident insurance. Commonly known in the industry as This insurance covers only a specific "AD&D," this coverage pays benefits to occurrence — the death of the the employee's beneficiary if death employee while traveling on business. If occurs due to an accident. It also your employees do not travel or travel provides benefits if the employee loses infrequently, this coverage may not be use of certain body parts (for example, worth the expense. the loss of an arm and a leg may result in payment of a percentage of the total benefits). Split-dollar life insurance. This insurance pays the employee's beneficiary when the employee dies and returns the premiums paid to the employer. Funded by both the employer and employee, it includes a substantial investment element. This option is typically considered for key employees rather than the entire employee group.