Employer Life Insurance Plans Often Underinsure; Term Life Can Bridge Coverage Gaps
Employer-sponsored life insurance plans typically offer coverage around two times the employee's salary, which falls significantly short of the recommended 10 to 15 times salary to ensure adequate financial protection for families, especially those with dependents. Term life insurance emerges as a viable solution to address this coverage shortfall, offering customizable and flexible policies that can be tailored to meet individual family needs. This approach enables policyholders to secure a more comprehensive safety net, providing greater financial security beyond what standard employer plans offer.
See the full article at