If you’ve ever asked yourself “Is my work insurance enough?” or “Do I need supplemental insurance?” then you’re already one step ahead of most people. In fact, more often than not I hear:
“I’ve got insurance through work. I’m good.”
And If I had a dollar for every time someone said that… I’d be writing this from a cabin in the mountains instead of my office surrounded by snack wrappers and LEGO pieces.
But here’s the thing: most people think they’re fully covered just because they checked a box during open enrollment.
Spoiler: we’re not talking about health insurance here.
This is about the other kinds of coverage — the ones people often skip past:
- Life insurance
- Accidental death & dismemberment (AD&D)
- Disability insurance
- Supplemental protections
The stuff that actually steps in when life takes a turn — and the income you bring home is suddenly at risk.
The truth? Your employer-provided life insurance plan might be a decent starting point, but it often isn’t enough to fully protect your family — and there are some serious gaps most people don’t realize until it’s too late.
The Myth of “I’m Covered Through Work”
It feels responsible to have life insurance through work. And hey — it’s definitely better than nothing.
But there are some pretty common gaps most people don’t realize until it’s too late:
1. Employer Life Insurance Is Usually Capped at 1x Your Salary
If your salary is $60k, that’s $60k in coverage.
Now think about what your family would actually need if something happened to you:
- Mortgage or rent (so they can stay in the home)
- Childcare (so your spouse doesn’t have to choose between work and kids)
- Groceries, bills, loan payments
- Funeral costs
- Time to grieve and adjust without financial panic
Imagine your spouse trying to cover the mortgage, daycare, bills and funeral costs with just one paycheck… or no paycheck at all. That 1x salary payout disappears faster than you’d think when grief and bills arrive at the same time.
Most experts suggest 7–10x your salary to fully replace your income for a time. That 1x through work? It’s a Band-Aid.
2. You Lose Coverage When You Leave Your Job (And Might Not Get It Back)
One of the biggest hidden problems with employer coverage?
It disappears the second you leave your job.
That means:
- All the money you paid in? Gone.
- All the coverage you thought you were building? Doesn’t transfer.
- If your health has changed in the meantime? You might not qualify for the same coverage — or you’ll pay way more for it.
But here’s something even sneakier that most people miss:
If your disability coverage is employer-paid, it’s usually taxable when you need to use it.
So even if your benefit is 60% of your salary, you could end up living on just 40–45% of your income.
Now picture trying to keep up with your mortgage, daycare, groceries, and bills on less than half your income.
I recently spoke with a young dad who thought his work plan was “plenty.”
Then his single friend got hurt and was out of work for six months. Even with his work benefits, he could barely keep up with his bills.
That shook him.
He said, “If it’s this hard for him… what would my wife and kid go through if something happened to me?”
That’s when it clicks for most people, but ideally, we want that clarity before the chaos.
That’s why private coverage matters.
It’s yours. You own it.
It travels with you. It doesn’t vanish when your job title changes.
And most importantly, It’s built around your real life — not just your work email login.
3. You’re “Renting” Coverage, Not Building It
Most workplace plans are group term life insurance plans, which means:
- They reset every year
- Rates can go up annually
- You usually can’t increase your coverage without a new round of health evaluations (and if you can, it’s minimal)
- You lose the opportunity to lock in a lower rate while you’re younger and healthier
When you go private, you get to:
- Lock in a long-term rate now (and skip yearly increases)
- Build your coverage over time
- Avoid the “start over from scratch” cycle every time you change jobs
Think of it this way:
Employer plans are like renting an apartment.
Private coverage? You’re buying the house. It’s yours, and it grows with you.
What Private Life Insurance Can Do That Work Plans Can’t
Look, this isn’t about throwing out your work plan. It’s about making sure your family’s protection doesn’t vanish the minute your employment status changes.
Here’s what private full or supplemental insurance coverage brings to the table:
Portability
Private life insurance stays with you.
Job change, career break, new city — doesn’t matter.
Your plan stays put because you own it.
Customization
You get to build a plan that fits your actual life:
- More life insurance
- Long-term disability
- Living benefits
- Bundled financial planning tools that help with retirement or legacy planning
None of that comes from checking the default box during open enrollment.
Long-Term Value
This is the part no one tells you:
- Private plans can lock in your rate for decades
- They can include cash value or living benefits
- You can slowly build more coverage without re-qualifying — something that’s way harder as you get older or your health changes
It’s protection that grows with your life, not just protection that sits there until your job changes.
Real Talk: If Something Happened Tomorrow…
Would your family be okay?
Would your spouse have breathing room?
Would the bills still get paid?
Would your kids’ day-to-day stay the same?
These aren’t scare tactics. They’re real questions I ask every client — because you deserve peace of mind, not crossed fingers and hope.
You don’t need to picture a tragedy — just a broken leg, a surprise diagnosis, or a job loss. That’s all it takes to shake everything.
No one ever says, “We were too prepared.”
And the truth is, the best time to make a smart decision is before life gives you a reason to need it.
No Pressure. Just Clarity.
If you’ve never looked into private life insurance or disability coverage before — or if your eyes glaze over when someone brings it up — you’re not broken. You’re just normal.
But now you know.
And if you’re ready to make sure your family is actually protected, not just halfway covered through your HR portal…
I’m here to help.
👉 Book Your Free Clarity Call
Let’s walk through it together — no pressure, no jargon. Just answers that actually make sense.
P.S. If this was helpful, you might also like:
“Open Enrollment Mistakes That Could Cost Your Family Thousands”
Disclaimer: Stephen Marker is a licensed insurance producer. Products, plans, and availability may vary by carrier and by state. Benefits, premiums, costs, and rules vary by plan, carrier, and location. Review each plan’s official documents before making a decision.
This information is provided for educational purposes only and is not intended as a guarantee of coverage, pricing, eligibility, or benefits. Stephen does not offer every plan available in all areas. Information shared is limited to plans he is appointed to offer.
Stephen Marker is not a licensed tax or legal professional. For tax or legal advice, please consult a qualified professional.
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