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life insurance conceptEnsure the life insurance you have through work is sufficient.  

Many people enroll in life insurance coverage through work because the cost may be low and it’s easy to manage. If you do have an employer-sponsored life insurance policy, how much do you really know about it?

Generally, employers will offer two types of life insurance: one that is included as part of your benefits package which you don’t pay for, or group life insurance which you can purchase. To ensure that you secure the right policy for your needs, be sure to ask these questions.

Is it enough?

While some life insurance coverage is better than none at all, it’s important to closely evaluate how much life insurance coverage you really need. Some companies only offer one- to three- times your annual salary as a benefit. For most families, this would not be sufficient coverage. Think about family’s needs and consider the weight of what outstanding debt can have on their finances.

Will it change as my life changes?

Your work life and home are always changing, and so are your financial needs. Whether your salary grows or your family does, you should always look to ensure your life cover stays in line with your needs. You will want to find out if your policy can flex, and what the cost might be to make changes.

Will my cover 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. Your new employer may not offer the same benefit options, either. To prevent a lapse in coverage, consider taking out a personal life insurance policy.

Are you ready to find the right life insurance for your needs? Talk to the professionals at Abbate Insurance. We can help you secure the right life insurance for your needs and budget in New Haven, Connecticut. 

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