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I receive life insurance through my employer, do I need my own policy?

Why Getting Your Own Supplemental Life Insurance May Be Important

There are several reasons why having your own supplemental life insurance policy, on top of the free life insurance policy provided by your employer, may be beneficial. These reasons include:

- Your employer's life insurance policy may cover minimal expenses

– Your family may need money to pay off a large mortgage and to help replace your lost income

– You will likely lose the policy if you switch jobs

– You can borrow against your own policy later on down the road

Having a life insurance policy that is “yours” is always a wise idea, especially if you have a family.

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