Understanding Employee Benefits Terminology

Every week, Asinta brings you a short glossary of commonly, and sometimes uncommonly, used terms in the world of employee benefits.

Life Event

Significant events (such as marriage, birth, adoption, divorce, and death) that create major changes in a person’s life.  Generally, when one of these events occurs, you will need to review and make appropriate changes in your benefits.  (For example, you may want to add a new baby to your health coverage, drop your ex-wife from coverage after the divorce, or change your beneficiary in the event of your spouse’s death.)