Employer provided life insurance is an affordable way to get a modest amount of life insurance coverage – usually a multiple of your annual salary (1 to 2 times your annual salary).
However, depending on your personal circumstances, it might not be enough protection for you and your loved ones.
And, if you change employers for any reasons, this employer life insurance doesn’t automatically go with you to your next job.
However, an individual life insurance policy gives you several advantages over employer provided life insurance, including:
- You can ensure you have the amount of life insurance protection that meets your needs.
- The policy is yours and, as long as you pay the insurance premiums on time, can only be cancelled or changed at your request.
- You don’t have to worry about losing your life insurance coverage if you change jobs.
Request your free life insurance quote to compare the most affordable life insurance rates from leading life insurance companies.