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Why You Should Have A Term Plan Even If You Have Employer-Provided Life

Author: Jessy Jose
by Jessy Jose
Posted: Sep 21, 2016

Amongst the several benefits that corporations provide to their employees, life insurance is certainly an attractive one. However, while corporation-sponsored insurance policies make sure you don’t neglect the need for an insurance, they might not be totally sufficient. The importance of life insurance in today’s times cannot be undermined. However, there is not much use of having one if your choice of insurance does not cover all your bases. So whether or not you have explored your term plans, it’s time you start educating yourself and making correct choices.

No matter what insurance policy your workplace provides for you, it’s important for you to consider the benefits of having a term insurance policy to secure your interests and those of your family. Term life insurance is a type of life insurance that provides you with coverage for a certain tenure at a fixed rate of payment. An added advantage is that you have a much greater scope of customizing your term insurance policy. They are extremely affordable, thus making them hugely popular.

Following is the benefit you receive with a term insurance policy:

  1. A term policy covers you and your family.
  2. You can personalize your term insurance and also renew your policy.
  3. In the event of the policyholder’s death, the beneficiaries (chosen by the policyholder) are compensated.
  4. Investing in insurance while you are still young is extremely beneficial. Term policies at this stage are low-cost.

There are other disadvantages associated with employer-provided insurance policies. For one, they may not offer sufficient coverage. These insurance policies are basic, and although they might not be very expensive, they do not guarantee that your interests will be taken care of. In the sudden event of your death, the payout your beneficiaries receive might be far from enough. You will of course not want to risk their standard of living. Additionally, you may not really have a choice in selecting which aspects of the coverage work best for you. These are disadvantages that a term policy will overcome.

Another thing to consider is that if you happen to leave your job, you lose your life insurance. If this event coincides with some kind of medical emergency faced by you or a family member, you will certainly face a tough time without any insurance coverage. This is a tremendous risk you will never want to take. Employer-provided insurance may also not offer much for the rest of your family. Ultimately, a term insurance policy is the answer to all such insecurities and risks. The internet is a great source to learn about the benefits that come as a part and parcel with a quality term policy. Make a smart choice today and live worry-free for the rest of your life.

About the Author

I'm one of the skilled and experienced presenter, my talks focus on life insurance for insurance carriers, agents, customers and vendors that service the insurance industry.

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Author: Jessy Jose

Jessy Jose


Member since: Aug 01, 2016
Published articles: 28

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