Thursday, January 28, 2010

Buying Additional Life Insurance?

Should I get additional life insurance, if I have substantial coverage through my employer?

I am in my late 20's and have 2 daughters.

I have about $1 million group term life insurance coverage.

Should I go ahead and purchase an individual term life insurance policy for myself or would it be the waste? I cannot afford permanent life insurance policy due to extremely high premiums.

You need to define the exact goal you want your life insurance policy to achieve, and compare the coverage you currently have through your employer with the goal, to see if it's meets those needs.

If you leave your current employer, get fired, or your firm goes under, you may lose your life insurance benefits. And, if you get sick you may be unable to qualify for your own life insurance policy.

You may want to consider a 30 year term life insurance plan so you have protection until you are in your fifties and your daughters are grown.

Here's how to learn more about how term life insurance works and request your free, instant term life insurance quotes online with no obligation.

NEW! Here’s How to Buy up to $500,000 of Term Life
Insurance without any Medical Exam,
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