My employer offers TruAssure life insurance coverage. Should I purchase life insurance through my employer or find my own policy?
There are many types of life insurance policies available and a qualified financial professional, looking at your specific situation, can best advise you about which type(s) of policy will fulfill your needs. However, the group term life insurance offered through your employer is an affordable and convenient way to provide protection for your family. Group term life insurance is generally the least expensive type of insurance because you build no cash value in the policy and you get the advantage of a group rate. In addition, group insurance up to a specified amount is available without having to prove that you are healthy as long as you enroll when you are first eligible. The policy provides protection for the term of the policy, which usually ends when your employment is terminated. If your employment is terminated, you can convert the group policy to an individual whole life insurance policy without providing evidence of insurability.
Related Questions
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