You’ve probably heard us talk about Ohio life insurance before. And maybe you don’t pay much attention because you know that you’re covered through your work insurance policy. But this could be a big mistake!
Many people believe that life insurance through work is all they need and it turns out to be a BIG problem. Here’s why…
Life insurance policies through work are usually for a small amount. Most of these policies are considered a burial policy. They provide $10,000 or less, mostly to cover unexpected funeral costs. And while this is a great thing to have, it is NOT the right protection for a family. In fact, most breadwinners need a minimum of $100,000 to adequately provide for their children (and it rarely costs much more than the work policy!)
Another downfall? Work provided life insurance is usually only available during the time that you are employed by the company. So when you change jobs that coverage may just disappear. And the kicker? You’ve gotten older and may not be able to qualify for your own coverage.
Life insurance premiums increase as you age (and especially if you have any health conditions). That means that each year you wait, the price goes up. So if you received coverage through work for 10 years, you could end up paying a LOT more after you leave the job, then you would if you locked in your private policy 10 years ago.
Plus, there is always the risk of incurring a medical condition during that time that might prevent you from qualifying on your own. Maybe during those 10 years you developed diabetes or even just gained 20 pounds. Your own Ohio life insurance could be hard to get or might have become unaffordable for your budget.
But all of this can be prevented by locking in your own privately owned policy NOW. Even if the work coverage is free, it’s worth it to have your own coverage in the proper amount to actually provide for your family. And even if your budget won't allow you to buy a lot of coverage on your own, some coverage is better than none. Ask our many customers who were grateful to have even a small amount of life insurance to help out after their loved ones died.
We can help! We have a quick and easy worksheet to calculate the amount of Ohio life insurance that works best for YOU! No pressure sales tactics, just a confidential review of your situation and recommendations that work for YOU! Call us today for a no-obligation review and quote. You can also get more details about life insurance or request your life insurance quote via our website.