You may already have some life insurance coverage through your employer. If so, it\u2019s important to think through how much coverage you currently have, and what you might still need.<\/p>\n
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<\/b>The Gist<\/b><\/p>\n
Group insurance through work has a number of limitations, and the amount of coverage is generally not enough to fully cover your needs.<\/p>\n
It is often best to think of group insurance as a supplement to your life insurance coverage needs.<\/p>\n
Group life insurance through work is generally not enough. Typically, employers limit coverage to 1-2x your yearly salary. For most of us, this amount wouldn\u2019t be enough to cover our family in the long run.<\/span><\/p>\n That doesn\u2019t mean group insurance through work isn\u2019t a good deal. If your employer offers free, basic life insurance as a benefit, take advantage of the convenience (and great price). Often, it\u2019s easy to sign up. Many companies don\u2019t require medical exams, and the coverage may be enough, if you are a strong saver or do not have major financial obligations.<\/span><\/p>\n But what if you have significant debt or have other people relying on you? You might need more coverage than you think. Here are three reasons to consider buying your own life insurance to make sure you\u2019re covered sufficiently:<\/span><\/p>\n Changing Jobs? Poof, It\u2019s Gone.
\n<\/b><\/b><\/b>Just like most employee benefits, life insurance goes away if you are laid off, fired or take a job elsewhere. You\u2019re better off having control over your life insurance. No matter where you work, your life insurance with Ladder moves with you.<\/p>\n