Is Your Employer-Provided Life Insurance Coverage Enough?

Employer-provided insurance is certainly a very nice benefit to receive, but it’s important to understand its limitations.

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Only A Fraction Of Coverage Compared To The Norm

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According to The Insurance Bulletin, term insurance is a type of insurance that only covers you for a certain amount of time. So, by knowing this, you could go with employer-provided insurance, and then whenever you are ready or are facing unfortunate circumstances, you could opt to go with term insurance.

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One of the biggest factors that will affect whether or not employer-provided insurance is enough for you is if you have a family. If you do, then the answer is a resounding no.

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Unsurprisingly, it is hard to determine exactly how much life insurance a particular individual needs. There are ways you can estimate how much life insurance you need, but as a good rule of thumb, more is always better.

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With employer-provided insurance, you don’t have to go out of your way to look into buying additional life insurance, which is something many people want to avoid doing if possible.

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