Group vs. Individual Life Insurance: Why Your Job's Policy Isn't Enough
If your only life insurance is the policy through your employer, you may have less protection than you think — and less control over it than you'd expect.
The coverage gap
Most employer-provided policies cap out around 1-2x your annual salary. For most families, that falls well short of what's actually needed to replace years of income, cover a mortgage, and raise kids to independence.
The portability problem
Group coverage is tied to your job. If you leave, get laid off, or switch careers, that coverage typically doesn't come with you — and if health has changed in the meantime, replacing it may cost more or become harder to qualify for.
Why individual coverage matters even if you have group coverage
- It stays with you regardless of your job situation
- You control the coverage amount — not an HR department's default
- Rates are locked in for the term, unaffected by employer policy changes
- It can layer on top of group coverage rather than replace it
The simplest way to think about it
Treat employer coverage as a bonus, not your foundation. An individual policy is the one that's actually yours — no matter what happens with your job.
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