Don't forget to review life insurance when going over employer benefits

Nov 11, 2010

Employees should remember to look at employer life insurance offers

September marks not only back-to-school time for children, but is also commonly benefits enrollment time at work. In addition to reviewing health and dental insurance options, employees should look into life insurance choices.

While many employers offer life insurance as a benefit, it would be wise for people to review the amount of coverage they have. As life circumstances change, necessary coverage amounts do too. Sometimes the standard amount offered by an employer is not enough to meet a family's needs.

CIGNA group insurance assistant vice president Diane Russell says purchasing life insurance through an employer is often an affordable option.

"Aside from the annual benefit enrollment period, families should review and update a policy after every new life event, such as buying a home, getting an increase or decrease in income, going through a divorce, having a baby or sending a child to college," said Russel.

As with any type of insurance plan, people should review all of their options to determine which policy makes the most sense given a family's personal circumstances. If adequate life insurance can't be obtained through an employer, people may want to consider speaking with an agent to obtain individual life insurance quotes.

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