Employer sponsored life insurance is a wonderful benefit to receive as an employee. However, just because life insurance is offered through work doesn’t mean that your family is adequately protected in event you die.
There three questions you must ask of your employer sponsored life insurance policy:
- Am I responsible for premium payments and if so can I pay more to get more life insurance?
- How is the amount of life insurance determined? Is there a fixed benefit or is the life benefit paid as a multiple of my salary?
- Is the policy portable?
Get the answer to these three questions from your human resources manager and then consult a life insurance professional to determine if you are adequately protected
Watch this video “Is my employer sponsored life insurance plan enough?” for more details:
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This is video #23 of a one hundred insurance video series that The Murray Group is producing to provide insurance consumers with quick, valuable answers to their everyday insurance questions.
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Disclaimer: This article is for informational purposely only. There is no legal advice being suggested or proffered and the author assumes no responsibility or liability for the actions taken or not taken by the readers based upon such information.
created by Ryan Hanley