Employer Life Insurance

Cheryl asks if she should get life insurance through her employer or on her own.

QUESTION: Cheryl on Facebook asks if she should get life insurance through her employer or on her own.

ANSWER: I recommend on your own. Employer insurance is typically annual renewable term. It goes up every year, and if you leave the company after having a medical episode, you can’t get insurance. If you get diabetes and leave the company, you can’t get insurance. You have a heart attack or a cancer scare and you leave the company, you can’t get insurance.

I would get my term life insurance from zanderinsurance.com. It’s where I buy mine. They’ll shop a bazillion companies and get you the cheapest rate anywhere. But I don’t recommend you buy life insurance through your employer.