Male   Female
  • Supplementing your group life insurance policy
  • March 1, 2014
  • supplemental insurance policiesBy LifeQuotes.com

    With the current turbulent economic times leading to more employers discontinuing sponsored benefits, relying solely on group life insurance plans to provide your family with financial security can be akin to playing Russian Roulette.

    Generally speaking, group life policies are pretty minimal plans, so because the plan is not tailored to meet your individual needs, there may be holes in the coverage that could expose your family to financial troubles down the road.

    Your individual circumstances play a major role in determining if your employer’s group life insurance plan is sufficient. A basic group life insurance policy might be adequate if you are only concerned with covering funeral costs.  But if you intend to provide your family with a financial cushion after your death, group coverage may not be enough.

    Joe Rachinsky, a communications consultant for The Life and Health Insurance Foundation for Education (LIFE), recommends that policyholders purchase 10 times their annual salary in life insurance benefits, if not more. It’s not possible to fund this high amount of coverage through group insurance alone.

    Pages: 1 2

  • Category: Featured Articles, Life Insurance, Videos

Leave a Reply

Archives

About

Consumer Insurance Guide SM provides a wide selection of originally-authored articles and expert advice targeted to the self-directed insurance shopper. Our mission is to provide consumers with useful, money-saving information on all things having to do with making sound insurance purchase decisions.

Consumer Insurance Guide SM is owned by Life Quotes, Inc. 8205 South Cass Avenue, Darien, IL. For editorial, content feeds, advertising and lead purchase opportunities, contact Robert Bland at bob@lifequotes.com.

Originally founded in 1984 as Quotesmith Corporation, Life Quotes, Inc. owns and operates www.consumerinsuranceguide.com and www.lifequotes.com, two online consumer insurance information services that cater to the needs of self-directed personal and corporate insurance shoppers.

About Us  |   Contact Us  |   Press Releases  |   The Best Privacy Policy  |   Life Insurance  |   Careers
For Agents & Brokers  |   Site Map  |  


Copyright ©1984-2015 Life Quotes, Inc., 8205 South Cass Avenue, Suite 102, Darien, Illinois. Life Quotes, Inc. and certain of its personnel are licensed as insurance agents, brokers or producers in all states. CA agent #0A13858, LA agent #200696, MA agent #333509159. dba Life Quotes Insurance Services in CA under agent #0827712, in LA under agent #205078. dba Life Quotes Insurance Services, Inc. in UT under agent #90093. All rights reserved. Telephone (630) 515-0170. Founded 1984.
10.1.1.84