Employer Group Insurances Vs. Individual Insurances

Discussion in Life & Health Insurance started by MrsJones • Mar 12, 2015.

  1. MrsJones

    MrsJonesActive Member

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    First I want to say that I'm not knocking insurances offered as benefits to employees. It's obvious that the costs can't be beat compared to personal insurance purchased separately but...would you ever consider buying it anyway just in case of the unexpected happening...company closed or moved away or getting terminated or laid off.

    Do we depend so much on what could be considered as a 'sure' thing and become content with it to 'not' give the possibility of the unexpected a second thought to even prepare ourselves for it? Wouldn't it be advantageous to be invested in future planning? If we saving so much by paying into a company's benefit plan, couldn't we take some of that we save and buy additional coverage outside of the job.

    Granted it may not be feasible in some cases financially but it is something to think about?

    Any thoughts?
     
  2. Pat

    PatWell-Known Member

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    Actually that is what everyone should be doing. The benefits you get at your job are only provided to you while you are an employee of the company. When you leave the company you will no longer have the benefits and if you try to get the benefits at a later date the cost will be higher because you are older.

    Try to fill the gaps in your coverage when it is offered to you by your employer. If the benefits are supplement benefits they are your benefits whether you are an employee with the same company because you own the policy. I am a benefits consultant working with employers and employees.
     
  3. philipgust

    philipgustMember

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    No idea, but have a great day!
     
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