Buying life insurance at work


It’s great that a lot of companies offer
life insurance as an employee benefit. So why doesn’t everyone take advantage of it? [music] Hi, I’m Ali for Securian, and I’m here to explain why getting life insurance
through work is worth thinking about. A lot of employers offer life insurance automatically
as an employee benefit. Automatic coverage! That’s a no-brainer, isn’t it? But there are other advantages you couldn’t get
by buying a policy on your own. For example… If your employer offers group insurance, your premium rate is based on the health status
of the entire group – not just you. Plus, insurance companies typically offer coverage
at affordable group rates! If you’re a new employee, you can usually enroll for
some level of guaranteed coverage meaning you don’t have to answer any questions
about your health or get a physical exam. Some employers offer the opportunity to sign up
each year during open enrollment, or when something big happens in your life –
like getting married or having a baby. Enrollment is usually fast and easy it can be as simple as just checking a box
when you’re choosing all of your other benefits. There’s just one more thing: even if your employer automatically provides a
certain amount of coverage – it might not be enough. Some industry experts say people need
seven to ten times their salary in coverage. If that were true, that automatic coverage amount from an employer might be only one-tenth the amount needed! Yikes! There’s a handy life insurance calculator on Securian.com to help you estimate your own needs – because everyone’s situation is different. If you determine you need more coverage, how do you get it? Most employers offer an option to increase your coverage amount. You can usually pay for it through payroll deduction… …so there’s no bill for you to remember to pay! Or forget to pay. That’s nice. Or you might consider getting an individual life insurance policy
to build on what you get through work. It’s not uncommon to own more than one policy. Either way, having adequate life insurance coverage is one of the most important things you can do
for the people you love! If you want to know more about life insurance search the topic on Securian.com. We’re here to help. [music]

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