Fiction: If I have life insurance through work, I don't need additional life insurance coverage.

Fact: Insurance provided through your employer is a valuable benefit, but it does not necessarily meet your full risk management needs. The life insurance offered through employers typically has several disadvantages, including:

• It is not portable. When you leave your job, you lose the insurance coverage or you may be offered a smaller cash value policy at a much higher premium.
• The death benefit is capped. Usually, the benefit is about one to three times your salary. Most people require a benefit of five to ten times their salary if they want their families to have benefits that last.