I’m asked this question a lot. Should I buy Life insurance through my employer or get a policy on my own?
Life insurance through an employer is very inexpensive however there are some major drawbacks. First, if you leave your employer for any reason your coverage stops. Second, you can only purchase an amount based on your salary which is usually not enough to pay off your debt much less pay for lost income to your family. Third, and most importantly, you are not in control of the policy. Your employer reserves the right to elimate benefits.
My advice is to purchase an individual policy which you control. Once the policy is inforce, no matter where you go or what job you are working the policy remains inforce. Rates for Life insurance are at an all time low so now is the perfect time to see how much you can qualify for.
For more information or to obtain a Life insurance quote visit The Andrew Agency.
The Andrew Agency is an independent insurance agency serving clients in Virginia, Maryland, and South Carolina. The Andrew Agency is a full service insurance agency with access to multiple companies.