Is Your Workplace Insurance Enough? (Most Canadians Don’t Realize This)
Is Your Workplace Insurance Enough? Most Canadians Don’t Realize This
Many Canadians rely on their employer’s group insurance plan and assume they are fully protected. Unfortunately, workplace coverage often gives a false sense of security — and when something unexpected happens, families discover the gaps too late.
At United Life Financial, we regularly meet clients who believed their employer coverage was “enough,” but after reviewing it together, they realized how much risk they were carrying without knowing.
Here’s what every Canadian should understand.
1. Your Workplace Coverage Ends When Your Job Ends
The biggest misconception:
Your employer can cancel your coverage at any time, and it automatically stops if:
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You change jobs
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You get laid off
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Your hours drop
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You switch from full-time to part-time
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Your company closes
This means your family loses protection exactly when you might need it most.
With private life insurance, your coverage follows you — not your job.
2. Most Employer Plans Only Offer 1–2x Your Salary
For a family with a mortgage, car payments, childcare, and living expenses, 1–2 years of your salary is not enough.
For example:
If you earn $70,000, your group plan may only cover $70,000–$140,000.
But most families actually need $500,000 to $1,000,000+ to be fully protected.
3. Group Insurance Rarely Includes Critical Illness or Disability (Properly)
Even when group plans include disability or critical illness, the coverage is usually:
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Low
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Without strong definitions
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Without return-of-premium options
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Without customization
Private plans offer strong protection that fits your personal situation.
4. Your Health Can Change — Locking In a Private Plan Saves You Later
If you rely only on work insurance and your health changes:
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You may become uninsurable
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You may only qualify for expensive-rated policies
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You won’t be able to apply for coverage when you need it the most
Getting your own private policy while you’re healthy protects your future insurability.
5. Your Work Insurance Isn’t Designed for Your Family — It’s Designed for the Employer
Employer plans are meant to be affordable, not fully protective.
They’re good as a top-up, but not enough as your foundation.
Your family deserves a customized plan based on:
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Mortgage amount
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Income replacement
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Children’s education
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Debts
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Long-term financial goals
So What Is the Best Approach?
✔ Keep your employer coverage — it’s helpful.
✔ But always have your own private life insurance plan that stays with you no matter what happens at work.
This is the only way to ensure your family’s protection is guaranteed.
Get Personalized Advice + Instant Online Quotes
You can compare the top Canadian life insurance companies and get instant online quotes here:
👉 https://unitedlife.ca/service/life-insurance/
Or contact us directly for personalized guidance:
United Life Financial
📞 905-906-7000
📱 647-570-9070
🌐 www.unitedlife.ca
📧 info@unitedlife.ca
We help clients choose the right plan — quickly, transparently, and with expert advice.
