Should I buy optional life insurance through work?

Question

At the moment, most of my current life insurance is through work. At the moment, it is inexpensive and convenient, but I may change jobs or retire and do not know how portable or permanent the coverage is. Right now, the coverage could affect roughly $110,000 or more for my family, so I am paying close attention to exclusions, beneficiary rules, and what could cause the benefit to be reduced.

Soradin · Accepted Answer

Compare cost, medical requirements, portability, benefit limits, and individual policy alternatives. For this insurance planning decision, employer life insurance can be valuable, but coverage may be limited, tied to employment, or priced differently as the employee ages. For this insurance planning decision, personal coverage can provide portability and more control over amount and duration. The analysis should begin with the written policy and an up to date illustration, and get a licensed insurance professional to confirm in writing any applicable guarantee, exclusion, rider, or surrender restriction.

Should I buy optional life insurance through work?

Soradin

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