Know what your workplace benefits actually cover

Many workplace plans include a base amount of life insurance, often described as a flat amount or a multiple of salary.

• Check whether the plan states a flat dollar amount, a multiple of salary, or both.
• Look for whether the base amount is provided automatically or requires enrolment.
• See whether optional or additional life insurance is available to top up the base amount.
• Check whether coverage includes dependent life insurance for a spouse or children.

Disability coverage is often split into short-term and long-term benefits, each with different rules.

• Look for separate short-term and long-term disability benefits, and note how each is defined.
• Check what percentage of income each benefit is designed to replace.
• Look for the waiting period — the time between becoming disabled and benefits starting.
• Note whether the plan mentions an "own occupation" or "any occupation" definition, and for how long each applies.

Not every workplace plan includes critical illness coverage — it's worth confirming either way.

• Check whether critical illness coverage is included in the plan at all.
• If included, look for the list of covered conditions.
• Note the benefit amount and whether it's a flat sum or tied to another figure.
• Check whether the benefit is paid as a lump sum or in another form.

Health and dental benefits usually come with annual maximums and category-specific limits.

• Look for annual or lifetime maximums on health and dental spending.
• Check coverage for paramedical services such as physiotherapy, massage, or psychology.
• See how prescription drug coverage works, including any percentage reimbursed or annual cap.
• Note any waiting periods before certain dental categories (like major restorative work) are covered.

What happens to coverage after leaving a job is often easy to overlook until it matters.

• Check what happens to each benefit if employment ends.
• Look for a conversion window — a limited time to convert group life insurance to an individual policy without medical underwriting.
• Note whether disability or health coverage ends immediately or continues for a short period.
• See whether the plan documents explain how to start a conversion or portability request.