It’s pretty common for employers to offer life insurance as a benefit
to their employees, in some cases at little or no cost. This is a popular
addition to compensation packages because it allows employees to not have
to worry about using their hard-earned wages to secure their future for
the event of emergencies. However, may people mistakenly believe that
this employer-provided policy is enough to protect them from anything
that could happen. Here are a few reasons why investing a few extra dollars
per month in a supplemental plan is a wise idea.
You May Lose Your Job
Business can be a fickle beast. One month your company may be growing at
a rapid rate and the next the income could dry up, leading to downsizing
and layoffs. Your job most likely isn’t as secure as you’d
like it to be, and that means your life insurance benefits could come
to an end when you least expect.
Coverage May End
Not all employers who offer life insurance continue to offer it when you
reach a certain age or choose to retire due to high costs. Purchasing
your own policy can help you avoid these potential policy-ending conditions
and even provide you with protection that’s better-tailored to your
life at that point.
Your Employer Can Stop Offering Coverage
Your employer may not keep life insurance around as a benefit forever.
In fact, you could learn that your life insurance benefit is either going
to rise dramatically in cost or even no longer be offered very soon. Having
your own life insurance policy can help ensure you’re still covered
if something happens.
Your Options Are Limited
Most employers don’t offer a wide range of life insurance policy
products to their workers. Not only is this tremendously expensive, but
it takes a large HR department to keep it all organized. Odds are you
probably have one or possibly even two different policy choices, which
means you probably aren’t going to be able to find the perfect policy
through them. Investing in your own policy can ensure you get the protection
you need for your loved ones, regardless of the fit your employer’s
Let our Atlanta insurance administrators connect you with the perfect policy
for your needs!
Call Insurance Specialists, Inc. today at (888) 451-0883 to schedule a consultation with one of our experts.