Life insurance through work.


A little background I have started a new job at a well known financial services company and among the benefits offered are life insurance, they offer three different types and there is a base amount to them that they give at zero cost to the employee. One is called “Core: Core Employee Life ($50,000)” and the other is called “Basic: Basic Employee Life (Amount: $180,000)”.
They then offer supplemental life insurance that is based on my starting salary and can be bought up 15x my salary for an extra amount of money each month.

I want to know who this goes to in the event I die, I have beneficiaries on my account and in the event I die I would like them each to receive a good amount of money to help them with their future endeavors, whether it be college, a wedding, starting a business, or anything for that matter.

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  2. Correct, it goes to the names beneficiaries. Pretty cut and dry. Problem I usually run into to is people relying too heavily on their employer plan, they eventually leave their employer (whether they plan to or not) snd now they have no life insurance, and are older than they were before so premiums increase. Generally I recommend having something outside your employer so you own the policy instead of your job owning it.

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