Spin off to Life Ins- do you have life ins through job only

HI,

Just curious as to whether anyone has life ins through their employer only or if they purchased a policy to supplement their employer's plan. I think it best now that my husband and I are homeowners to get life ins policies outside of work and he does not agree.

What does everyone do?

Thanks.

Re: Spin off to Life Ins- do you have life ins through job only

I have policies through work that I pay for after tax. The are totally portable policies that I can take with me if I leave the firm.

No other policies.

Re: Spin off to Life Ins- do you have life ins through job only

I agree because most employers do not let you take the life policy with you if you leave or fired.
Nothing is forever unfortunately.

And its always good to have more or to add a policy to the one you have.

Re: Spin off to Life Ins- do you have life ins through job only

i have 2. one from work (automatic but not much $$) and one privately.

Re: Spin off to Life Ins- do you have life ins through job only

Re: Spin off to Life Ins- do you have life ins through job only

We just got life insurance privately. If you are of good health, sometimes the premium is a lot lower on an individual policy than it is on a group policy through your employer because the group policy is not subject to underwriting.

For what DH was paying for term life through the FDNY, he was able to insure both of us for a higher amount of coverage.

ETA: We went through SelectQuote - their rates were very good.

Message edited 7/28/2008 4:25:11 PM.

Re: Spin off to Life Ins- do you have life ins through job only

My wife and I are both teachers here on the island and both have term policies totalling 1.5 million. Its great b/c we are so young, the premiums and monthly payments are ridiculously low. We have them thru a great company through my financial advisor within my school district. FM me if you want details.

Message edited 7/28/2008 4:32:16 PM.

Re: Spin off to Life Ins- do you have life ins through job only

DH & I each have a policy through our jobs but we also each have seperate policies.

Re: Spin off to Life Ins- do you have life ins through job only

My company offers a 10,000 policy at no cost to me so I have that, but DH and I both have separate policies aside from employer-provided.

He's in the industry and one thing he points out to clients is that it's a perk the company can withdrawl at any time so while you may have it today, it could be gone tomorrow. If it's portable or something you can take with you if you leave or are fired that's a good option, but it can be extremely expensive too.

I've seen my company change a number of policies in the 7 years I've been there so I wouldn't trust them to keep the same life insurance option for my duration of employment. I'd want to control that myself.

Re: Spin off to Life Ins- do you have life ins through job only

We both used to before DS was born. Now we have additional coverage on our own.

Re: Spin off to Life Ins- do you have life ins through job only

DH and I have regular life insurance, but he needs separate insurance if something happens to him on his ship or on the helicopters going back and forth. Accidents on both of those would not be covered in regular insurance.