Everyone knows that one of the main perks of a job, if not the main perk of a job, is the insurance it provides. In fact, many people choose a job based on the insurance benefits, and some even leave a job if it does not provide adequate insurance benefits and search for one that does.
When we think about the insurance benefits provided by our jobs, we first think of health insurance benefits. The health insurance benefits offered by our jobs are usually pretty decent deals because we can get them through group health insurance. However, what some of us neglect to consider is getting life insurance benefits through our jobs; in other words, getting a life insurance policy through group life insurance. If this is an option for you, it could help you get the lowest life insurance rate possible for you.
Group life insurance is often less expensive than individual life insurance because the group life insurance costs are subsidized. When buying into a group life insurance policy, sometimes you don't have to submit to a medical exam, which is good news for those people who are in poor health, or have pre-existing health conditions. Plus, if you purchase an individual life insurance policy, you could possibly be taxed for the amount of money it took to pay your rates for the year, i.e., the government views the money you paid for your individual life insurance policy as taxable income. Who wants to pay more expensive premiums for life insurance, only to turn around and be charged for what was paid?
So, if you are considering purchasing a life insurance policy, check with your employer to find out about the company's group life insurance benefits. Because it's group insurance, and because you may not have to have a medical exam, a group life insurance policy may help you get the lowest life insurance rate available for you. |
