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Getting covered through your employer can be convenient, inexpensive and you can usually get covered regardless of your medical history.
Answer these five questions to find out if your employer-provided life insurance is good enough:
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Many individuals need a tailored plan to meet all of their life insurance needs based on their financial circumstance and priorities, which may require individual life insurance in addition to employer-provided life insurance.
#2: If your job changes will you still have the life insurance?
Usually Cheap Vlade Divac Jersey , when you stop working for a company, the employer stops paying for your life insurance coverage and it ends, unless you are able to convert it to an individual policy. The converted policy may be more expensive than if you had purchased an individual life insurance policy when you were younger, and in some cases Cheap Peja Stojakovic Jersey , you can鈥檛 convert your employer-provided life insurance coverage to an individual policy that is not linked to your employment.
You may not be worried about converting your employer-provided coverage because you鈥檙e expecting life insurance coverage through your next employer, but what if the unexpected happens when you are between jobs? You never know when you may need coverage and having a gap in your life insurance coverage is a risky situation that is preventable.
If your next job doesn鈥檛 offer any type of life insurance coverage, you may have to purchase an individual life insurance policy to replace your employer provided coverage. Depending on your age at the time of purchase, the cost may be significantly higher than if you had purchased individual insurance earlier.
#3: Will you still have life insurance coverage if you experience health issues?