Many employees receive life insurance as part of their employment perks, while freelancers and others may access group life insurance through professional assemblages, unions, or other associations. However, these policies typically fall short of providing the necessary coverage for most families. In addition, they usually don’t extend to spouses or other family members. If you have queries about your family’s life insurance needs, contact our team at the Jason Ridley Agency servicing Colleyville, TX. We are committed to helping you structure the coverage that best fits your needs.
Perks of Employer-Provided Life Insurance
The chief advantage of employer-provided life insurance is that it’s generally cost-free, with the option to purchase additional coverage. Moreover, these policies are provided to groups, allowing individuals with pre-existing health conditions to secure life insurance easily. The process of obtaining life insurance through an employer is virtually hassle-free, requiring minimal action from the employee.
Drawbacks of Employer-Provided Life Insurance
While employer-based life insurance certainly holds value, it also bears some limitations. First, employees lose their coverage when they transition to new jobs. Second, most plans do not extend insurance benefits to spouses or children. Lastly, and perhaps most concerning, employers usually provide inadequate coverage to safeguard their employees’ families fully.
While obtaining life insurance from your employer is a practical step, many families require additional coverage. The requisite volume of insurance depends on factors like your age and family structure, among others, but most individuals need more extensive life insurance than their employers provide.
Partnering with the Jason Ridley Agency
If you reside in or around Colleyville, TX, and wish to discuss your life insurance and other coverage needs, visit us or call at (817) 281-4500 to connect with the Jason Ridley Agency team. We are here to guide you to a plan best suited to your needs.
