Ownership matters
Group coverage is tied to the plan and employment terms. An individual policy is owned under its contract and is not normally dependent on keeping a particular job.
Workplace coverage
Employer life insurance vs. an individual policy
Employer coverage can be valuable, especially when a base amount is included as a benefit. It may not be portable, large enough, or priced the same after employment ends, so it should be reviewed alongside an individually owned policy.
Reviewed for clarity and compliance · September 2026
Check portability
Conversion or portability may be available after employment ends, but deadlines, price, and coverage terms can change.
Measure the gap
Compare the workplace benefit with income needs, debts, care costs, and existing resources rather than assuming a salary multiple is enough.
What to retrieve from your benefits portal
Find the certificate or summary plan description and confirm the current benefit, beneficiary, supplemental options, reductions by age, evidence-of-insurability rules, and what happens after separation from employment.
- Base and supplemental benefit amounts
- Employee and employer premium contributions
- Portability and conversion deadlines
- Age-based reductions
- Beneficiary designation
Ready to make this specific to you?
Use your age, state, coverage amount, term, tobacco use, and general health to create a more useful starting point.
Start my comparisonCommon questions
What shoppers ask
Should I decline free employer life insurance?+
Usually there is little reason to decline an employer-paid base benefit, but review the plan terms. The separate question is whether it fully covers your household’s need.
Can I keep group life insurance after changing jobs?+
Some plans offer portability or conversion under specific deadlines and terms. Others end with employment. Check the actual plan documents.