Life insurance is important, most of know that but there are still many of us who don’t carry it. If you’ve been thinking about getting a life insurance policy or have a policy in effect, there are a few things you should avoid.
One being, why you shouldn’t carry life insurance with your employer.
You may be thinking…. it’s cheaper and you can get more coverage for less. This is true, but life insurance isn’t just about getting a low price. It’s about choosing the right plan, coverage and a company that will be there for your life and pay out the benefits when you need them.
Now, don’t get me wrong you can carry additional life insurance with your employer, but just don’t make it your primary.
Here are 3 Reasons Why You Shouldn’t Buy Life Insurance through your Employer.
1.) The rates go up each year as you get older. You’ll want to invest in a term life insurance policy instead, that way your rates don’t go up each year you get older.
2.) People switch jobs, get fired or laid off. If this happens to you, your policy will end too.
3.) If you suffer from an illness or become disabled working, your benefits may end. Most employers only have to keep you employed for a certain period of time. If you exhaust that time your employment can be terminated and now what? Your coverage will end and what if your illness is life threatening? Finding an insurance company to approve you now will be hard to come by.
Now that we’ve covered the reasons why you shouldn’t buy life insurance through your employer here are some suggestions to get you started on choosing a company that will work to get you the benefits you need.
For children: Give your children the protection they deserve with The Grow-Up® Plan from Gerber life Insurance! They offer low childhood premiums and you’ll get a Free Child ID Safety Card for your child.
For Active Duty Military families: Military.com – Life Insurance SGLI and VGLI May Not Be Enough. Both of these benefits cap out at $400k. If you are looking for more coverage to protect your family and connect with trusted Military.com partners to secure your financial future.
For Everyone: Lower Life Insurance. Lower Life Insurance allows users to input their info and get quotes from 4 major insurance companies, such as New York Life, Farmers, Metlife, and Liberty Mutual. You’ll be able to see who is offering the best rates without having to make several different phone calls.
There are so many risks you chance when you choose not to have life insurance and honestly that’s just dumb. You need to protect your family, stop thinking about it and get your life insurance started today.