I have Insurance at work, I'm good...right?Aug 10, 2021
Work coverage is great because it is cheap, you don't have to qualify for it - an absolute no-brainer. However, the average policy in a group plan is two times salary earnings (usually not including commissions or bonuses). If you make $100,000 a year, that is only $200,000 in life insurance.
ᴛʜɪɴᴋ ᴀʙᴏᴜᴛ ᴀʟʟ ᴏꜰ ᴛʜᴇ ᴅᴇʙᴛꜱ ʏᴏᴜ ʜᴀᴠᴇ, ᴡᴏᴜʟᴅ $200,000 ᴄᴏᴠᴇʀ ᴛʜᴀᴛ?
ʜᴏᴡ ʙɪɢ ɪꜱ ʏᴏᴜʀ ᴍᴏʀᴛɢᴀɢᴇ?
ᴅᴏ ʏᴏᴜ ʜᴀᴠᴇ ᴄʀᴇᴅɪᴛ ᴄᴀʀᴅꜱ ᴏʀ ʟɪɴᴇꜱ ᴏꜰ ᴄʀᴇᴅɪᴛ?
Never mind the need to replace that income if you were to die; your $100,000 salary that supports your family would need to come from somewhere.
ᴡʜᴀᴛ ʜᴀᴘᴘᴇɴꜱ ɪꜰ ʏᴏᴜ ʟᴏꜱᴇ ʏᴏᴜʀ ᴊᴏʙ ᴀɴᴅ ᴛʜᴇ ᴄᴏᴠᴇʀᴀɢᴇ ᴛʜᴀᴛ ᴄᴀᴍᴇ ᴡɪᴛʜ ɪᴛ?
Work plans are great, but almost all people should have a personal policy as well. You feel me? Comment below.
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