Do you have a life insurance policy on yourself with your employer? I bet you think that’s a good idea. However, there are a lot of things that you don’t know that can hurt you in the long run. If you haven’t done so already, get a quote online for life insurance today.
With most people we have to work to earn money to support our families. If you’re one of the lucky people who has a job that has benefits then chances are you might have life insurance as well. By now you’re probably wondering why not take the coverage with my employer versus going out and doing it on my own? One great reason to get private life insurance is you own your policy whereas when you get it with your employer typically they own the policy. So, why does that matter? Well, like most people found out the hard way when the economy collapsed and there were mass layoffs, those people not only lost their jobs but their coverage as well. In addition if you leave your employer your coverage stops as well. To avoid this getting private coverage allows you to have coverage no matter what happens with your employment/career. Another reason is pricing. You can actually be overpaying with group coverage if you’re a healthy non smoker. With group rates they have to inflate the price due to those that aren’t in the best of shape by spreading the risk throughout the entire group. So, if you’re young and healthy why would you want to pay more money because of an older less healthy person in your group?
One of the only reasons why you would want to have life insurance with your employer instead of private life insurance is if you’re uninsurable. Some things that can cause you to be uninsurable would be your health conditions, diseases, build, and also even your age. Only if you were told you were uninsurable would I suggest you take the coverage if available with your employer.
