By Ralph R. Dickinson

“But I Have Life Insurance through My Work”

Some employers provide Life Insurance policies as part of their employee benefits package at little or no cost to the employee. This is a great benefit if you have it. However, there are many things to consider if you have a Group Life Insurance Policy:

1. You rarely “Own” the Group Policy…..In other words, these Policies are not portable, so you can’t take them with you if you get laid off or leave the company.
2. You can lose your Life Insurance Policy for many reasons. It can simply be phased out of your benefits package at the company’s discretion.
3. Price is not fixed and normally rises every one to five years!
4. An employer can alter or change and even cancel the policy as they see fit.
5. Group Life Insurance Policies are based on the average age and health of the group as a whole. This means you could be paying the price for older and/or unhealthy co-workers!
6. You are probably way underinsured with only a Group Life Insurance Policy. You should have 10 to 20 Times your gross annual income in Life Insurance Protection privately.

Compare your Group Rate against Private Industry rates as we routinely beat Group Life Insurance Rates, Dare to Compare!