Assignment task:
Up until now Audrea, age 55, has been relying primarily on her $150,000 of group life insurance coverage to protect her family in the event that she dies while her two children, who are just starting university and a community college, are still at least partially dependent on her. What is the most pressing reason why you would encourage Audrea to take out personally owned insurance, rather than rely on her group coverage? Question options: A) If she leaves the group Audrea would have to convert some of the coverage or lose it. B) The group coverage is limited as to the amount of protection provided. C) The employer could choose to cancel the group plan at any time. D) Employer/employee group life insurance only pays for job-related deaths.