If you live and/or work in Evergreen Park, IL, you probably get a small insurance policy through your employer for free. This kind of insurance is usually a basic group life insurance policy, and you probably have the opportunity to add supplemental insurance to get a higher amount.
There are advantages to buying insurance through work:
- It’s convenient, and you probably only have to fill out paperwork provided by your company.
- You won’t find a better rate.
- It’s easy to get accepted, even if you have a condition like a heart problem that would keep you from getting accepted on your own.
However, there are also good reasons to speak to Martin Insurance Team about purchasing your own life insurance policy, either on its own or, more likely, in addition to the policy, you can get through work.
- If and when you ever leave that company, it is unlikely that your life insurance policy will follow you. Even if the company you are getting the policy through lets you convert it to an individual policy, the price will probably go up drastically.
- Your next employer may not offer life insurance at all.
- If you only have life insurance through your employer, you are limited as to what kind of options you have to choose from. Term life insurance, which is only payable as a death benefit, is usually the kind of life insurance offered by employers.
- Your work policy might not have a limit as high as you need.
Clearly, there are advantages to the group policies offered by employers in Evergreen Park, IL. You should never say no to free coverage, but you should also consider that if you are depending on that policy, you might be in trouble when you are older and trying to policy on your own. If you want to discuss the policy that would best help you and your family, call Martin Insurance Team today.