Life Insurance Through Work

In many cases an employer might offer a certain amount of life insurance for free. Is life insurance through work enough.

Life Insurance Through Work It S Likely Not Enough Jessi Fearon

Thats not usually the case especially if you own a home or have children.

Life insurance through work. Another major benefit of getting life insurance through your employer is the convenience. This is a common response to the question of life insurance by people who have life insurance through work. Just remember the limitations especially if you dont expect to stay at the.

Of all the people who own life insurance half have a group life insurance policy through work according to a 2017 study by the life insurance marketing and research association. For example most employer life insurance policies fall far short of the amount of coverage that you actually need. Premiums as low as rs17day for sum assured of rs1 crore claim up to rs.

Lastly the cost of a life insurance policy purchased through your employer is often much cheaper. Reasons for buying group life insurance through work. Getting life insurance through work can be an easy way to protect your family.

Group term life is issued by metropolitan life insurance company new york ny 10166. Employer sponsored life insurance is a great benefit but it doesnt always offer enough protection. Usually not much thought goes into determining if this cliche is even valid.

If your employer offers a group plan consider signing up for advantages that may include. Work sponsored plans are a great solution to this. Is your life insurance through work enough.

The big advantage of getting life or disability insurance through work is that its easy to do. As with health insurance you dont want gaps in your life insurance coverage because you never know when you might need itmost workers who get coverage through work dont know where their. Group life insurance through your work is a good idea.

For example you may know you need to get life insurance but simply havent gotten around to it yet. One of the biggest misconceptions about life insurance is that if you have coverage through work youre set. Group life insurance can be a nice addition to your benefits package especially if its free or nearly free.

If your employer offers the coverage its usually as simple as checking the yes box during open enrollment and youre signed up. 150000 deduction under section 80c choose between annual and monthly premium payment options. For example you may get coverage worth 25000 50000 or even one or two times your annual salary.

Click here to check your eligibility.