December 2, 2023

Perks and benefits from work are great and all, but when it comes to life insurance, relying on a policy through work is not always the best option. Finding a great life insurance policy that can provide financial stability if the main breadwinner(s) were to pass away is important, so here’s a breakdown of what one needs to know, to avoid making the same mistake many others do.

Here are three reasons to consider a life insurance policy outside of employee benefits:

The Monthly Premium Is Probably More Than It Should Be
Life insurance through employers is typically priced at a group rate. To accommodate everyone of all ages and lifestyles, the insurer may price at a flat rate based on average characteristics of the entire group, which includes individuals of below average health. So if employees are younger or healthier than the average joe, they’re most likely paying a higher rate than what they could individually qualify for.

Coverage Is Basic At Best
Companies usually only offer coverage for 1-2x an individual’s annual salary, which quite literally only provides 1-2 years to support family if one were to pass away. So if young children are part of the picture, that financial support probably won’t last long enough for them to reach adulthood. 

That’s why a life insurance policy through Dayforward is great for young families–if anything were to happen to a parent, their partner and kids can get a steady stream of income until the youngest child turns 18-26 years old. And the best part about a life insurance policy through Dayforward is when life changes arise, like having a new child or receiving a pay raise, the policy can adjust through their unique add-on riders. Certain conditions and limitations apply.

The Policy Is Not Transferable To A New Job
Although it’s highly unlikely, check with the employer to see whether they allow employees to keep life insurance coverage when they leave the company. But considering most people switch jobs every few years, it’s generally recommended to have a policy that is separate from one’s place of employment.

So make sure to ask the right questions when choosing benefits and be aware of all the ties life insurance through work may come with. Nobody wants to pay a higher rate than they could individually qualify for or leave their families with an inadequate amount of financial support. 

To get a quote today or learn more about a life insurance policy through Dayforward, visit  

Dayforward Insurance Agency, Inc. (DIA) operates as Dayforward in some states (not licensed in Florida; CA license # 6001543 and AR license # 3000811898). DIA receives compensation based on the premiums for the policies it sells, and sells term life insurance policies issued by its affiliates, Dayforward Life Insurance Company Inc. (DLIC), Austin, TX, and Commercial Travelers Life Insurance Company (CTLIC), New York, NY. DLIC does not solicit business in the state of NY. Each insurer has financial responsibility for its own products. Insurance policies are subject to certain conditions, limitations, and exclusions as set forth in the applicable policy. Policies and/or riders may not be available in all states. DLIC Policy Form # ICC22-DLI-TRMPOL-003; CTLIC Policy Form # ICC22-CTL-TRMPOL-003

Media Contact
Company Name: Dayforward Insurance Agency, Inc.
Contact Person: Kevin Bell
Email: Send Email
Country: United States

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Life Insurance Through Work May Not Be As Beneficial As One May Think first appeared on Web and IT News.

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