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Mr. Agent, I Have Insurance Provided Through My Job!

I have had so many clients tell me, "I don't need to purchase any Life Insurance because I have Insurance provided through my job." While I think it is a great thing to take advantage of the Insurance on your job, you should ask yourself the following questions. How long do I intend to work here? Do I ever plan to retire? What type of Insurance policy am I being provided with? Can I take the insurance with me when I leave the company? If I take the Insurance with me, will it be affordable? What happens to my coverage if the company discontinues the benefits? Will coverage contine if the company becomes bankrupt, sold, or is involved in a merger? Will I have coverage if I get laid off, or fired?

A very close family member worked for a company for many years, and was laid off at 50 years old. When she was laid off, she had already acquired some health problems limiting the type of coverage she qualifies for. To make matters worse, she lost her Insurance coverage. While there was hope for her, she has to pay higher premiums because of her age, and current health conditions than she would have had to pay when she was 30 years old.

Once again, I share the age old expression. Don't put all your eggs in the same basket. Diversify. Purchase at least enough insurance outside of your company to make sure that you are covered if you lose your job, or retire.

In the long run, I think you will find it a worthwhile and wise decision.

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About the Author

Mike Matos, Life Insurance Arkansas
414 West Second St.
De Witt, AR 72042

If you would like to re-print this article, please contact the author.
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