Employer Term Life Insurance

Have you elected additional Life Insurance through your company’s employee benefits?  Many people sign up for coverage because it is easy to acquire since there is slim to no underwriting requirement and have relatively low premiums.  While young, this approach can work if you like the idea of extra insurance on the cheap.  However, at age 45 (if not sooner) the cost usually becomes more costly than private coverage and will increase at quinquennial ages (45, 50, 55 etc).  Employer coverage is also non-portable or expensive to do so.  It should not be counted towards your actual life insurance needs for these reasons.

If you have coverage through work, are near or over age 45 and have insurance needs for a certain time & amount, a term policy likely will save you premium dollars, have a locked in rate, and will not be affected by any employment changes.

Please contact us if this pertains to you and would like to research other options.