Life Insurance Benefits Through Your Employer
Many companies offer life insurance to their employees as an added perk to benefits packages. Insurers such as Unum Life Insurance, supply this life insurance at affordable prices and offer competitive deals. Life insurance purchased through your employer can be affordable, often times requires no physical examination, and follows you even if you switch jobs. This is a great option for employees and many times they are unaware it even exists.
Some insurers offer useful, value-added services with group life insurance plans that are readily available. Interest-sensitive whole life insurance gains cash value that can be borrowed against or used to purchase reduced policies with no more premiums paid according to the Unum Insurance website. Universal life insurance coverages generally offer flexible premiums based on customer need, and also offer the ability to increase or decrease the benefit as those needs change.
It's important to understand how much life insurance your family needs before purchasing additional benefits, but when policies are available through your employer there's a very good chance you are getting an excellent deal. It's still worth your time to do your homework and ensure the optional benefits you get through your work are worth your extra money. If you are unaware of any life insurance options, check with your company's benefits department to see what may be available.
Many employers provide a basic level of life insurance and give employees the option to purchase more coverage at an extra cost. It's up to you whether or not it's worth your money. You usually can keep your coverage once you leave your employer but you need to understand what the policy entails because each coverage option varies. If life insurance options through your employer do not appeal to you, you can always try to obtain life insurance quotes directly from the recommended life insurer. It's possible that with a physical exam and credit review you get a better deal than your employer offers, but then again, it could be worse.