Life insurance financially protects your family in the event that something covered by the policy happens to you. There are numerous types of life insurance plans available, but if your employer offers one, you might be wondering whether or not you should sign up for it.
In this guide, we’ll explore your options and provide details to help you decide if employer-sponsored life insurance is the right choice for you
How does employer life insurance work?
Employers that want to offer life insurance to their employees do so by purchasing an employer-sponsored life insurance plan. Doing so gives you the option of signing up for a life insurance policy through your place of work. Coverage amounts are usually based on a multiple of your salary. For example, if you earn $60,000 annually, you might qualify for a policy with benefits totaling two times that figure, or $120,000.
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