Not sure why you think life insurance is an “inexpensive” benefit to offer. It might be for a cheder or yeshiva katanah most of whose teachers/assistants are drawn from a younger and healthier demographic, Conversely, some of the yeshivos, kolels etc. employ fairly large numbers of older rebbeim (and moros in some BY’s) where even term insurance premiums may be more costly. Perhaps there could be some centralized purchasing entitiy where the risk pool would be larger and the underwriting for a more age-diverse demographic would lead to lower premiums. Another option used by some secular groups is to offer a “cafeteria program” of benefits where professional employees and staff can choose from a menu of options, including insurance within a given dollar range. In some cases, there are benefits to opting for insurance in lieu of direct salary dollars but each individual case is different and thus the cafeteria plans offer more flexibility. I’m sure we have some CR readers who are more knowledgeable about life insurance and can provide more informed advice.
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