tmasters
Senior member
- Joined
- Feb 19, 2008
- Messages
- 532
- Reason
- PALS
- Diagnosis
- 08/2008
- Country
- US
- State
- California
- City
- Anaheim
I have a question about company paid life insurance.
I'm still working. I work for a great company with a super benefits package including LTD that will pay 80% of my salary when I can no longer work.
They also pay for term Life Insurance with a benefit amount of 2x my annual salary. Yesterday I asked the HR rep about the premiums I would have to pay after I leave the company on disability. She said the rate would be determined by my health status at that time, and there is no cap on the premium amount! So I expect they will price me out of continuing.
Disappointing, as I was hoping my wife would get some benefit from this. Does this sound right to all of you? I guess these company paid insurance policies really only cover sudden death due to stroke, heart attack, accidents, etc.
Tom
I'm still working. I work for a great company with a super benefits package including LTD that will pay 80% of my salary when I can no longer work.
They also pay for term Life Insurance with a benefit amount of 2x my annual salary. Yesterday I asked the HR rep about the premiums I would have to pay after I leave the company on disability. She said the rate would be determined by my health status at that time, and there is no cap on the premium amount! So I expect they will price me out of continuing.
Disappointing, as I was hoping my wife would get some benefit from this. Does this sound right to all of you? I guess these company paid insurance policies really only cover sudden death due to stroke, heart attack, accidents, etc.
Tom