Changing Jobs (Part 2 of 3) Employer-Provided Group Life Insurance

Maintain Stability in the Midst of Change Life can bring a flood of changes during your working years. Career changes. Changes in priorities. Changes from work to retirement. How can you make sure that your investments will navigate through these periods of change? Employer-Provided Group Life Insurance Life insurance isn't always a topic of fun conversation, but it is a necessary issue for many people. Many employers provide a small amount of life insurance as a benefit to their employees. Your choices? 1. Go without coverage 2. Convert the group plan to an individual policy from the same company 3. Purchase an individual policy Converting to an individual policy from the group plan can be a good option provided that you are uninsurable otherwise. The problem is that the rates may not be as competitive as you may desire. If you desire life insurance, your best bet is to purchase an individual policy for the amount that you need directly from an insurance company or agent. This way, you control the benefits and can take it with you from one job to the next. Treat the extra insurance from work as an added benefit.