Open enrollment season is a good time to ask a question a lot of parents skip: is the life insurance through my job enough to take care of my kids?
What work coverage usually looks like
Many employers offer basic group life insurance for free or at low cost, often equal to one or two times your salary. Some let you buy more. It's convenient and usually doesn't require a medical exam.
Where it can fall short
- The amount. One or two years of salary rarely covers raising children, paying off a home and funding their future.
- It's tied to your job. If you leave, get laid off or retire, coverage usually ends or changes. Some plans let you convert or continue coverage, often at a higher price.
- You don't control it. Your employer can change carriers, benefits or prices.
- Price can rise with age. Supplemental group coverage is often priced in age bands, so the cost can climb as you get older.
Why parents add their own policy
An individual policy belongs to you, not your employer. With term life, you can lock in a level premium for 20 or 30 years, often timed to when your kids will be grown. It stays in place if you change jobs.
A smart way to use both
Keep the work coverage, especially if it's free, and treat it as a bonus. Then size your own policy to cover the real need, so your family is protected no matter where you work.
Quick check
- Find out how much group coverage you have
- Estimate what your family would actually need
- Cover the gap with a policy you own
Have a question? Ask Jarvis
Jarvis is a free AI concierge open to the general public. Ask it anything about this topic in plain English, any time, at mmalifeusa.com/jarvis. When you're ready, a licensed Moving Mountains advisor can walk you through real options. No pressure, and we don't sell your data.
