Tips to help choose your benefits in five easy steps

No matter what stage of life you’re in, the insurance available to you through work can help you protect what you love about your life. As your life changes–starting a new job, expanding your family, or even buying a house–your insurance needs will probably change too. Here are five easy steps to help you make better benefits decisions at work.


Step 1–Calculate your benefits budget

Setting a benefits budget can be a great starting point when determining what benefits to sign up for at work. Use the What’s your monthly budget? worksheet to figure out how much of  your budget can go toward benefits. Knowing how much you can spend can help you identify what benefits are most important for you and your family.

Step 2–Review your existing coverage

When determining what changes or additions you need to make to your benefits at work, it’s important to review what coverage you already have. Take some time to consider other types of insurance you may have bought on your own or have with your loved ones. Find out if your employer provides any benefits at no cost to you—since they might be all you need. Knowing what you already have in place can help you make sure your benefits budget is spent wisely.

Step 3–Read relevant product information

Take the time to learn about products that are being offered to you and read corresponding product information so you can make an informed decision. Knowing what the product is, how it works, what’s covered, and how much it costs is essential in making a smart benefit selection. Familiarizing yourself with your employer’s benefits offerings can help you identify the options that best meet your needs—and your budget.

Step 4–Talk to your loved ones

Involving your loved ones when selecting your coverage options can help you choose what makes sense for you and your family. If your spouse’s employer also offers benefits, it’s a good idea to compare and contrast all of your options.

Step 5–Sign up

Once you’ve evaluated your budget and your benefit choices and have made a decision, remember to sign up for your benefits at work by filling out your paperwork or logging on to your employer’s benefits site.

Signing up for benefits at work can help protect you and your loved ones so you can enjoy life and not worry about it.

Stay connected

Connect with us for ideas, tips, and discussions to help protect what you love.

    

Related posts

  1. How do I know if I’m covered? Understanding pre-existing condition limitations
  2. What you need to know to file a claim
  3. Demystifying life insurance myths
  4. Getting ready for maternity/paternity leave
  5. Accident insurance: a valuable benefit for all stages of life
  6. Beyond dollars and cents: how disability insurance can help get you back on your feet
  7. FMLA—an important resource to know about
  8. Employee Assistance Program (EAP): what is it and how does it work?
  9. All about HDHPs and HSAs
  10. Benefits you can use today with insurance protection for tomorrow
  11. I’m a Millennial. Why do I need insurance?
  12. Tips to help choose your benefits in five easy steps
  13. How to choose a dentist in your PPO network
  14. How to maintain a work/life balance
  15. Critical illness insurance: a way to help bridge a health insurance gap
  16. How to assess how much disability insurance you need this year
  17. When to re-evaluate your life insurance needs
  18. Do I need accidental death and dismemberment (AD&D) insurance if I have life insurance?
  19. What is the difference between accident insurance and accidental death and dismemberment insurance?
  20. Accident insurance vs. Disability insurance
  21. Life insurance that moves with you
  22. Returning to work after a disability
  23. Short-term disability insurance and your maternity leave
  24. Critical illness insurance: what to consider before you buy
  25. Tips to make your work life easier when you return from maternity leave
  26. Choosing the right dental plan
  27. The advantages of joining a dental PPO
  28. Should I buy insurance at work?
  29. A plan for income when you can’t work
  30. Disability insurance choices
  31. Affordable life insurance at work

SLPC 26243 10/14 (exp. 10/16)

© 2015 Sun Life Assurance Company of Canada. All rights reserved. For policy and underwriting company information, see the disclosures page.