Buying life insurance at work
More than 62 percent* of Americans buy life insurance coverage at work. For some, it’s the only coverage they own. There are good reasons why so many people take advantage of this employee benefit.
It’s affordable
Group life insurance provided through your employer is a great way to fill in the coverage gaps you may have. The buying power of a large group helps keep rates affordable.
It’s easy
Your employer’s coverage options are not only affordable, but also convenient. You can pay premiums painlessly through payroll deduction. Choices under a group life insurance plan are often tailored to salary or job classifications to simplify your options and make them easier to understand.
You may not need a medical exam
Depending on the design of your employer’s plan and the type and amount of coverage you choose, you may be able to buy insurance without answering health questions or taking a medical exam.
There’s no pressure
Group life insurance is not sold on commission. The representatives of your group life insurance benefit provider – those who meet face-to-face with employees, as well as those who staff the provider’s call center – are trained to answer your questions and help you understand your options, not to force you to buy anything. Your employer’s plan also may offer self-service options for enrolling and making changes to your coverage online.
*Source: “Facts about Life 2006,” Life Insurance Marketing Research Association International.
