While half (50 per cent) of Canadians with life insurance have group coverage through their workplace benefits plan, a quarter (26 per cent) say they don’t know how much coverage they have, according to a new survey by PolicyMe Corp.

The survey, which polled more than 1,500 Canadians, found among those with workplace coverage, the most commonly reported coverage amount was $100,000 to $299,999 (26 per cent).

Read: Canadian employees link life insurance to improved mental well-being: report

“Workplace life insurance is a valuable benefit [as it can help with financial well-being], but many employees don’t realize it’s often tied to their job and might only cover a small portion of their full coverage needs,”........

© Benefits Canada