Questions to Ask If You Have Life Insurance Through Work

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Questions to consider when reviewing your employer-sponsored life insurance.

Many companies offer their employees a life insurance policy, providing valuable protection to their finances and families. Typically, employers offer two types of life insurance – one is included as part of your benefits package and you don’t pay for it, the other is group life insurance you can purchase. Whatever the type, have you considered that this life insurance may not be enough? Be sure to consider these questions if you have life insurance through work.

Is it enough?

While some life insurance coverage is better than no coverage at all, it’s important to understand how much life insurance you really need. Some companies only offer one to two times your annual salary as a benefit. Does this adequately meet your family’s needs? Consider your outstanding debt, funeral expenses, and your family’s future living expense.

Is it flexible?

As your life changes, your life insurance policy will need to, too. Over time, your salary will increase, your family might grow, and you may take on extra caregiver responsibilities as your parents get older. Your life insurance must be flexible enough to stay in line with your needs.

Will my coverage end if I change jobs?

Your life insurance coverage through work may not follow you if you change jobs or if you stop working altogether. If your new employer may not offer the same benefit options, it’s important to make sure you have sufficient life insurance coverage in place, no matter where you work.

Do you have more questions about your life insurance policy? If so, contact the team at Lloyd S. Berkett Insurance Agency.  Located in Los Angeles, we are ready to assist you with all your insurance needs.

Lloyd Berkett Insurance

11150 W. Olympic Blvd.
Suite 610
Los Angeles, CA 90064

(310) 857-5757
(800) BERKETT | 237-5388
Fax: (310) 857-5750

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