How often have you applied for a new job and heard the words, “we do not offer life insurance at this time?” Or, “we can only provide you two years of coverage?”. The reality is that life insurance policies are not offered nearly enough at jobs. While it may be beneficial for your job to offer that perk, companies do not always have the funds to cover a good policy plan. We are here to tell you that you should not solely rely on your job for insurance as there are other options for obtaining a policy.
Do not settle – Employers may not always have the need to buy life insurance for everyone or if they do offer it, it is limited in the number of years you will receive it. Remember, just because your job does offer insurance, it does not mean it covers everything. Make sure you go over with your employer what your insurance covers. Most of the time it is only for minor injuries while on the job but does not include life insurance. Disability insurance, short term care insurance and life insurance are all different types of policies. There are different types of life insurance plans that you can purchase on your own outside of your job. The key to purchasing insurance is to work alongside what you already have at your job. Ask yourself these questions: Do I have life insurance at all? Does my job only offer a certain number of years for life insurance? If so, you might want to consider adding more years to your term life insurance or beat the bullet and go for whole life insurance. Check out these 6 things you should look for in your insurance policy.
It is never too early to apply – Let’s say you just got hired on at a new job or already have a job that you plan on leaving soon. You may think that getting life insurance later on in the future or waiting is best because you do not need it now at this very moment. However, it is never too early to apply for life insurance! If your job offers it from day one, make sure you take full advantage and sign up. If your job doesn’t offer it, you have options to start now. You have flexibility by signing up for a term life insurance that allows you to obtain an active policy until it expires. You also have the option to purchase permanent insurance which does not expire, but, the earlier you purchase it, the more your cash value grows over time. Also, it is never too early to choose a beneficiary. Check out these things you should consider when choosing your beneficiary for your life insurance policy.
Care Financial is a privately owned and operated business providing families, individuals and businesses with comprehensive wealth management strategies. We can answer all of your questions regarding your life insurance policy and other options. Contact us online at www.carefinancialonline.com or call us at 251-633-7122.