10/04/2023
Why life insurance paid for by your employer should NOT be your only life insurance policy:
1. The policy is temporary and solely dependent upon your employment at your current job, which means your family would be exposed to major financial strain, should something happen to you during a time that you no longer have that policy.
2. Company paid life insurance usually limits the coverage amount to $30k-$50k. Generally speaking, if you have a family, or you simply desire to leave behind larger sums of many, a company paid policy would not allow you to do so.
3. Company paid life insurance usually limits the type of policy you can have, which keeps you from having other benefits, and policy features that you could have when shopping for your own plan (i.e. chronic, terminal, or critical illness riders, LTC riders, cash value account with tax deferred growth, etc, etc)
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