Every insurance application asks how much existing coverage you have. I some individual coverage, but also a $50k policy automatically from my employer (technically the union, not employer per se). I was working with an agent to buy another policy, and he said that the employer sponsored coverage does not count towards the total. Was he correct, or was he an idiot?
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Your agent is right. Employer-sponsored life insurance usually counts as a separate benefit and doesn’t affect the total coverage you have when applying for a new policy. It’s smart to check with your insurance provider or agent to make sure you’re getting the right information and meeting your coverage goals.
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When applying for a new policy, you usually report only the personal life insurance coverage you have in place, not the employer-sponsored or union benefits.
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The agent was right. Employer-sponsored life insurance usually doesn’t count toward the total coverage when you apply for a new policy. These policies are often seen as extras and typically don’t impact how much coverage you can buy on your own. It’s a good idea to track all your policies and details, but for new applications, only your personal coverage is considered.
Thank’s guys for your suggestions