What your group benefits actually cover.

Every plan is different, so this is a guide to the questions, not the answers. Keep your own booklet next to you as you read.

Life insurance at work

Many plans include life insurance worth one or two times your salary. It’s a good start, and it costs you little or nothing. Two things to know:

• It usually ends when you leave the job. Some plans let you convert it to a personal policy, but only within a short window after you go.
• It’s rarely enough on its own for a household with a mortgage and children. Add up what your family would need and compare.

Disability: the part that matters most

If you’re going to read one section of your booklet, make it this one. Your ability to earn is usually the biggest thing you own.

• Short-term and long-term. Short-term disability covers the first weeks or months. Long-term disability starts after that, often after a waiting period of several months.
• A portion of your income. Many long-term plans replace around 60% to 70% of your pay, often up to a monthly maximum that can hit higher earners hard.
• Tax. If your employer pays the premium, the benefit is usually taxable, so what arrives can be noticeably less than it sounds.
• The definition changes. Many plans pay if you can’t do your own job for the first two years, then only if you can’t do any job you’re reasonably suited for.

Health and dental

This is the part people use most, and the part they know best. Watch for the percentage the plan pays, the yearly maximums, and the limits on paramedical services like physiotherapy or massage therapy, which are often set per practitioner.

What group plans often leave out

• Critical illness coverage: usually not included, or a small amount.
• Coverage that follows you: most of it stays with the job, not with you.
• Enough life insurance for a mortgage and children.

If you can’t find the answers, you’re not alone. That’s exactly what the $95 Account Review is for: bring the booklet and I’ll go through it with you, line by line.

General information. Every group plan is different; your benefits booklet and plan documents are what count.