Is My Company Life Insurance Enough?
Great question! While employer-provided life insurance can be a valuable benefit, it often isn’t enough to fully protect your loved ones. Here are a few reasons why:
- Limited Coverage: Employer-provided life insurance typically covers 1-2 times your annual salary. This might not be sufficient if you have dependents, a mortgage, or other financial obligations.
- Portability Issues: If you leave your job or get laid off, you lose your coverage. This can leave your family unprotected at a critical time.
- Lack of Customization: Employer plans are one-size-fits-all and may not meet your specific needs. With an individual policy, you can tailor the coverage amount and terms to your unique situation1.
- Cost Misconceptions: Many people think individual policies are too expensive, but they can actually be quite affordable, especially for young, healthy individuals.
- Health Changes: If your health declines, it might be difficult to get a new policy or the premiums could be significantly higher.
Considering these points, it might be a good idea to look into purchasing your own life insurance policy to ensure your family’s financial security.
If this is of interest to you, please request a quote for affordable life insurance for your family needs.
We Offer Direct Purchase Insurance Option
- Buy directly online with no pushy sales agent involved
- Complete the entire process in 15 minutes
- Get covered once you make your first payment online
Life, Accident, Dental & Vision Insurance with United Healthcare
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Life Insurance with Ethos Life
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Term life insurance is a popular choice for many people. Here are some reasons why you might consider buying term life insurance:
- Affordability: Term life insurance provides coverage at an affordable price for a fixed period of time. It can help you protect your family from financial struggle when they depend on your income, such as when you have children, a mortgage, or debt.
- Flexibility: You can choose the length of coverage that suits your needs.
- No savings or investment component: Term life insurance does not have a savings or investment component, which keeps the premiums lower compared to other types of life insurance.
- Specific coverage: Term life insurance allows you to cover a specific concern, such as your working years or the duration of a mortgage.
- Financial security: It provides security for your loved ones when they depend on your income.
- Mortgage payoff: It can help pay off your mortgage in case of your untimely demise.
- Debt reduction: It can help reduce any outstanding debts you may have.
- College tuition coverage: It can provide funds for your children’s education.
Please note that term life insurance is not suitable for everyone, and it’s important to evaluate your individual needs and circumstances before making a decision.
Too many families go without life insurance. More than 7% of kids in the U.S. lose a parent or sibling by age 18. If that parent was a breadwinner, 44% of those families experience financial hardship within 6 months. Life insurance is an important way many families can stay financially viable after a loss.
Many want life insurance, but don’t know how to get it. 80 million U.S. households are uninsured, facing an average coverage gap of $200,000. We can help reduce this gap with the partnerships we established with insurance carriers. About 95% of our applicants up to age 85 are approved when they apply with for life insurance through Edmonds Insurance Group.
