Life Insurance Perk Through Work! By Alice on - Updated Sep 18, 2011
One way to have life insurance coverage is through your employer. If you have a great employer, this will be one of your benefits and no charge to you. Luckily, I have such an employer.
For the past 20 years I have had life insurance and accidental death and dismemberment coverage. The life insurance policy is for $60,000.00 which doubles to $120,000.00 if my death is accidental or an accident causes dismemberment. If death is by a car accident there is an increased payout of $25,000.00 if a seat belt was in use and another $5,000.00 for an air bag.
What I like about this policy is that should I stop working or retire I can convert this policy to an individual life policy without requiring a physical.
My employer pays a premium of $25.50 each month for this group insurance coverage for me (I looked up the bill). Some employees have larger policies, some have smaller. But for all of us this is free. If you feel the need for a larger policy you can always do this on your own.
Unum Provident $60,000/$120,000 Policy Purchased at: Employer Price: Free/$25.50

I hope this AD&D/life policy is better than Unam's short term disability policy. They were absolutely horrible. It has been 8 months and they still don't have everything corrected.
What a wonderful benefit they are providing you. True, the coverage could be more, but who can complain with free insurance.
We don't have any life insurance as both my hubby & i are self employed, but it sounds like this is a great and affordable plan!
Nice - I didn't even know this myself! Without a doubt, I'll be keeping this in mind should the time ever arrive - thanks for the helpful information!
You cannot beat free! That's great that you don't have to take another physical to transfer this to an individual policy!
That's great that it lets you extend - especially without a physical. Most employer policies just end as soon as you are done.
Glad to hear that your employer takes care of such things for employees.
That is great that your employer pays for it
My husband along witgh over a million other members was signed up for Unim. They would not pay his disability. There is a huge amount of class action lawsuits against this company. They stink.