This post is brought to you by MetLife. All opinions are my own.
It’s officially fall and that means it’s time for open enrollment. If you or your spouse work for a company that provides benefits such as medical, dental or vision, it’s your once a year opportunity to re-evaluate your benefits plan and make changes.
Did you know more than 60 percent of employees went on “auto-pilot” last fall, meaning they neglected to make any changes to their plans?
That seems crazy considering that nearly half of employees say they’ve undergone a major life change in the past year that may alter their insurance needs. Not spending enough time or keeping the same coverage from year to year could leave you under-protected or missing out on financial savings.
As you or your family experience a life change or reach a new milestone, it’s always a good idea to re-evaluate your benefits and insurance policies. Even if you haven’t experienced any changes within the last year, your employer may have updated their offerings.
Here are some things to think about:
- What would you do in the event you experienced a sudden income loss?
- Did you or your spouse receive a salary raise in the last year? Do you need to update your life insurance policy or disability coverage to reflect the new income?
- Is one or more of your children getting to the age where they’ll need dental care or major dental work such as orthodontia? Is it time to upgrade your dental insurance?
- Is one of your children going to start driving soon? With a new driver in the home, re-evaluating auto and/or home insurance is an important thing to do.
To help navigate the fall benefits season, MetLife has created a series of YouTube educational videos called “Stop.Watch.Enroll.” I encourage you to watch this video to learn more about getting insurance at work:
Tip: Look for tools and resources to help you make the most of the benefit options available to you and your family. MetLife has an easy-to-use life or disability insurance calculator, which can provide instant quotes. When using these tools, you’ll be prompted to answer a few quick questions, and then you’ll received customized recommendations right away.
Did you make any changes to your plan this year? Were there any life events or milestones that prompted a change?