In March 2026, 59% of private industry workers had access to life insurance through work. That plan usually ends when you leave the job, and it is often only one or two years of pay. Your own policy stays with you.
Work life insurance is a nice perk. But 41% of private industry workers do not get it at all, according to the U.S. Bureau of Labor Statistics.
If you do have it, it is usually tied to the job. Quit, get laid off, or retire, and the coverage most often stops. Some plans let you convert it, but the price can jump.
Work plans are often small, like one or two times your yearly pay. Many families need more than that to pay off a home, raise kids, and replace years of income.
Your own term life policy is yours. You pick the amount and the number of years. If you change jobs, it does not change.
The younger and healthier you are when you buy, the lower your price. That is why a lot of people get their own policy and keep the work plan as extra.
- 59% of private industry workers can get life insurance at work (March 2026)
- Only 14% can get a pension
- Work coverage usually ends when the job ends
- Your own policy stays with you