02/16/2022
Let’s talk about work life insurance…
Work insurance is a GREAT benefit, but you should consider it just that, a benefit. You do not own it and it doesn’t travel with you when you leave your job.
Work life insurance is like a company car. It’s a benefit and when you leave or get fired you’ve gotta turn that company car in.
I always will recommend people take the life insurance from work. It’s usually cheap, flexible, and you don’t have to medically qualify for it..
BUT
Let’s just think for a second, you’re sick. You have to stop working for a while and they stop taking your life insurance out of your paycheck and something happens where you die.
You have NO coverage.
Now if you would have had your own policy outside of work, your family would be covered.
Now imagine, you’ve just retired from your job, you’re 65 years old and you want life insurance.
At this point in your life you probably have some health conditions and you’re looking at over $100 a month for $15,000 in coverage.
Stay with me here, currently, you’re 30.
You have your work insurance but this post has made you go 🤔.
That same $100/mo will get you $200,000 in coverage for 30 years and at the end of 30 years when you outlive your policy, you get ALL of your money back that you’ve paid in (~$36,000).
But if something were to happen the day after the policy was issued your family would get $200,000 tax free.
Moral of the story, don’t let your company car be the only thing you rely on.
It can be taken away and all you might be able to get is a hoopty.
Contact me today and we can ensure your family is protected.
