[Anonymous]

I am leaving my current employer. Is it wise to take my current group term life insurance policy with me or just give up? If I take it, I will pay the entire premium by myself. What usually does a policyholder do in this situation? I have no idea. Any suggestion is appreciated.

[Sween1012]

Term life is pretty cheap. I guess it depends how old you are, your health, the amount, and term. You could get quotes else where to see if the full premium is comparable..probably is since it's group & I'm assuming you avoid having to go through the medical exam as well.

[Anonymous]

You need to consider if you want life insurance coverage, and how long you want it for etc. If you are happy with what you have now, find out what the premium will be, and get quotes on comparable policies. If its not much more, I don't see why not to keep it.

If you're young and in pretty decent health it's dirt cheap. I bought a $500,000 policy on myself the day I turned 18, and each of my brothers own a $1 million policy on me.

[Author]

Replies