How to get cheap life insurance through work
Many employers offer group life insurance as part of your benefits package at either a discounted rate or for free, if your employer pays all of your premium. The coverage comes in multiples of your salary, up to five times your annual salary. And you may be able to add coverage for your spouse for a small monthly premium, like $2.00.
Professional unions often offer group policy coverage as well, sometimes with a period of free coverage. For example, the American Federation of Teachers union offers $5,000 of free life insurance coverage for the first year of membership. And the American Dental Association offers $50,000 in free term life insurance to its student members, who don’t have to pay premiums through residency.
To learn the details of your group policy, contact your human resources department or union representative for eligibility and application information.