some may give you total freedom in determining exactly how your pay and benefits are given others may limit your choices in order to ensure that you have some basic benefit coverage for instance in this latter case imagine if your employer gave you the option of spending all of your benefit dollars on whatever you wanted being young single and in good health might lead you to believe that buying life insurance is a waste of money although your assumptions are somewhat correct sadly young people do die tragically even though it really won't be your worry your family will have to bury you funerals cost money and they get more expensive each year and no benefit administrator wants to tell your family that you gave up your life insurance for an extra day off as a result your organization may give you less money to spend and provide you a basic life insurance policy