What workplace coverage typically provides
Group life insurance through an employer is often set at a small multiple of annual salary. It is convenient and usually requires little or no medical underwriting.
Where it falls short
It generally ends the day employment ends, so it disappears with a job change or layoff. The amount is tied to salary rather than your family's actual needs, and it may reduce or end at retirement. It is usually not portable.
How a personal policy differs
A personal policy stays in force regardless of your employer while premiums are paid, is sized to your family's needs rather than a salary multiple, and locks in your rate based on your age and health at purchase.
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Is workplace life insurance enough on its own?
Usually not for families with dependents. It is often only a small multiple of salary and ends when you leave the job, so it is generally a supplement to a personal policy.
What happens to workplace coverage if I change jobs?
It typically ends when employment ends. Most group coverage is not portable, so it does not move with you.
Why get a personal policy as well?
A personal policy stays in force regardless of employer, is sized to your family's needs, and locks in a rate based on your current age and health.
Does workplace coverage require a medical exam?
Group coverage often requires little or no medical underwriting, which is one reason its amounts are limited.
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This page is for general educational purposes only and does not constitute personalized financial, tax, legal or accounting advice. Figures, limits and coverage ranges are illustrative and change over time - verify current terms before acting. Insurance and registered-account eligibility is subject to underwriting and government rules. Compensation is disclosed in writing before any application is signed. Neelesh Kumar is a Licensed Life & Health Insurance Agent regulated by FSRA - verify at fsrao.ca. © 2026 Wealthready · FinanceWithNeelesh · Kitchener, Ontario.