If I have life insurance through my employer, why should I consider getting another policy?
Insurance is a protection for your family and estate. When this is provided through your employer, it is like renting insurance because when you leave that employment, the insurance is over. Life insurance premiums are tied to age and health. Both of these worsen over time and that means that replacing this after years on your job will be more expensive. Having adequate life insurance now is part of your estate planning. Any additional coverage from your employer should be additional, and not an integral part.
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Insurance is a protection for your family and estate. When this is provided through your employer, it is like renting insurance because when you leave that employment, the insurance is over. Life insurance premiums are tied to age and health. Both of these worsen over time and that means that replacing this after years on your job will be more expensive. Having adequate life insurance now is part of your estate planning. Any additional coverage from your employer should be additional, and not an integral part.
