Usually not. Employer group life insurance is often only one or two times your annual salary, while many families need roughly 10 times income or more to cover a mortgage, debts, and future expenses such as college. Group coverage also typically ends when you leave or change jobs.
A personal term policy that you own is often the right addition to group coverage. A needs analysis using your debts, income, mortgage, and education goals will give you a specific number.
Questions about your own policy? Johnson Insurance Agency in Englewood helps families and businesses across the Denver metro area and Colorado compare coverage from multiple carriers. Call us at 303-768-8130.
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