On average, just 15 percent of those with only group life insurance have the recommended level of coverage, compared to 32 percent of those who own individual policies purchased outside the workplace.(Image: Shutterstock)

Workers might have life insurance policies, but the coverage is often not enough, according to Guardian Life's report, "Protecting Those We Love: The Role of Life Insurance in Financial Wellness."

Guardian Life surveyed 2,000 employees and 1,500 employee benefits decision-makers, and found that while the vast majority of workers say it's important for a family's primary wage earner to own life insurance, more than 60 percent have either no life insurance or less than industry-recommended coverage amounts.

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Katie Kuehner-Hebert

Katie Kuehner-Hebert is a freelance writer based in Running Springs, Calif. She has more than three decades of journalism experience, with particular expertise in employee benefits and other human resource topics.