Life insurance is often included in employee benefits packages, while others receive group life insurance through professional societies, unions, or other organizations. While these policies are generally helpful, they seldom provide sufficient coverage and often only cover the employee, not other family members. If you have questions about your life or other insurance needs, contact our Associated Insurance Agencies Inc. team, serving Westerville, OH. We’ll help you obtain the best coverage for your family.

Advantages of Employer-Provided Life Insurance

Employer-provided life insurance is beneficial because the base policy is free, and employees often have the option to buy more. Also, because they are group policies, employees who have pre-existing conditions can obtain life insurance they may not have access to independently. Employer-provided life insurance also requires minimal effort and no medical exam. You often receive coverage by completing a simple form during enrollment.

Limits of Employer-Provided Life Insurance

Despite the usefulness of employer-provided life insurance, its shortcomings include:

– Losing your coverage if you leave your employer. While you will likely obtain life insurance from your new employer, you may experience coverage gaps due to timing.

– Employee benefit plans often do not offer life insurance for spouses or children, or the amounts needed.

– Most critically, employees with families generally need much more life insurance coverage to protect their families than most plans offer.

Overall, employer-provided life insurance is a helpful benefit that can complement the life insurance plan you develop with your agent outside the workplace.

Working with Associated Insurance Agencies Inc.

If you live in the Westerville, OH, area and want to discuss life or other insurance needs, call (800) 935-2335. Our team at Associated Insurance Agencies Inc. will help you find a plan that fully suits your family’s needs.