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.

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

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