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Informative Articles

Group Term Life Insurance and the Options Available
Group term life insurance is more affordable than individual life insurance policies because the costs to the insurer are lower. They have less paperwork to handle, and are guaranteed multiple accounts from one sale - which is their incentive for...
Low Cost Health Insurance - Oxymoron?
Some people would underscore "oxymoron" when reading the words "low cost health insurance," especially since healthcare costs have been rising by double digit inflation over much of the past decade, slowly now to the 8-9% level, still way ahead...
Proposed Changes Could Result In Lower Car Insurance Premiums
At the moment, the legal system in Britain forces all personal injury claims to go through the courts and be judged on an individual basis. Many of these claims crawl through the courts at a leisurely pace, the result being expensive court...
What is Building Insurance?
Building insurance is very necessary to protect against loss incurred due to uncertainties. Insurance against fire, earthquake, theft, storm, lightning etc by the house owner for his building is called as Building insurance. The building...
Why Boat Insurance Is A Necessity
Boat insurance is necessary for all boat owners who live on or really value their boats. If it is something that you feel you must replace then you need to insure it. If you live on your boat it is absolutely necessary that it be insured. Who would...
 
Changing Jobs (Part 2 of 3) Employer-Provided Group Life Insurance

Maintain Stability in the Midst of Change

Life can bring a flood of changes during your working years. Career changes. Changes in priorities. Changes from work to retirement. How can you make sure that your investments will navigate through these periods of change?

Employer-Provided Group Life Insurance

Life insurance isn't always a topic of fun conversation, but it is a necessary issue for many people. Many employers provide a small amount of life insurance as a benefit to their employees. Your choices? 1. Go without coverage 2. Convert the group plan to an individual policy from the same company 3. Purchase an individual policy Converting to an individual policy from the group plan can be a good option provided that you are uninsurable otherwise. The problem is that the rates may not be as competitive as you may desire. If you desire life insurance, your best bet is to purchase an individual policy for the amount that you need directly from an insurance company or agent. This way, you control the benefits and can take it with you from one job to the next. Treat the extra insurance from work as an added benefit.

About the author:

Paul D. McDonald, MBA is a financial professional specializing in working with seniors and business owners. He assists people in making decisions on retirement planning, investing, insurance, budgeting, debt management, and many other critical financial decisions. Paul welcomes calls on the subject at the toll-free number 1-877-711-1264 or you can visit his website at http://boomerfinances.blogspot.com/.