Augusta
VIP Contributor
The Employer provided life insurance policy might sounds great for the workers but it comes with its falls as well
So what are the cons of Employer' provided life insurance for the employees
Loss of coverage
There will be a loss to the life insurance coverage's for the employee If there's any job situation changes. Which means that an employee must continue to be under this employment to enjoy this.
If an employee should change jobs or is laid off, then there will gaps in the workers life insurance coverage. as the worker has lose the employer-provided life insurance.
High cost of converting for employees
Some policies just like this one will allow workers to convert their group policy to an individual one, but the snag is that it might be expensive. it is sometimes
more cost-efficient to get insurance policy outside employersl plan.
Risk is involved
An employee will be taking risk with this offer even if he or she doesn't leave the job, This is because not
having additional coverage is a risk. The truth is that the employer can stops offering life insurance as a benefit.to the employee. So this will leave the employee with no life insurance. This is why an additional life insurance is needed by a worker.
So what are the cons of Employer' provided life insurance for the employees
Loss of coverage
There will be a loss to the life insurance coverage's for the employee If there's any job situation changes. Which means that an employee must continue to be under this employment to enjoy this.
If an employee should change jobs or is laid off, then there will gaps in the workers life insurance coverage. as the worker has lose the employer-provided life insurance.
High cost of converting for employees
Some policies just like this one will allow workers to convert their group policy to an individual one, but the snag is that it might be expensive. it is sometimes
more cost-efficient to get insurance policy outside employersl plan.
Risk is involved
An employee will be taking risk with this offer even if he or she doesn't leave the job, This is because not
having additional coverage is a risk. The truth is that the employer can stops offering life insurance as a benefit.to the employee. So this will leave the employee with no life insurance. This is why an additional life insurance is needed by a worker.
