Employer-offered life insurance typically only covers a fraction of the protection required for most individuals. Photo: Getty Images

The age-old idiom, “if it’s free, it’s for me,” can give workers a false sense of security when it comes to employer-offered life insurance.

A myth has emerged that the life insurance offered by employers provides adequate protection for employees. However, the reality of the situation is that it does not. Throughout my 30+ years consulting individuals on their life insurance needs, I’ve witnessed countless situations where individuals fall into this trap. In reality, employer-offered life insurance typically only covers a fraction of the protection required for most individuals.

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