Coverage Planning
Why your employer life insurance is probably not enough
Group life insurance from your job is a nice benefit, but for most families with dependents, it falls well short of what's needed. Here's how to tell if yours does.
Short answer in the first 80 words for featured snippet capture.
The quick answer
Placeholder: Group life insurance from work typically equals 1-2x annual salary. Most families with dependents need 10-12x income. That’s the gap. Also, group coverage is usually not portable when you leave the job.
How group life insurance actually works
Placeholder: employer-paid base coverage, optional supplemental, typically term, usually not medically underwritten.
The three big limitations
Placeholder:
- Coverage amount is usually too small
- You typically lose it when you leave the job
- You may not be able to replace it if your health changes
How much coverage most families actually need
Placeholder: quick framework, or pointer to Family Protection Checklist.
Why individual term coverage is worth getting
Placeholder: you own it, you keep it when you change jobs, rates are locked in for the term, you control the beneficiaries.
When to layer individual coverage on top of work coverage
Placeholder: most people should. It’s not either/or.
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