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Should I get life insurance through work? Is it enough?



Should I get supplementary life insurance outside of work?

Getting life insurance through your employer may be better if you’ve applied for personal life insurance outside of work and been turned down. There are many life insurance options on the market, and chances are you can find a better policy.

Infographic showing the pros and cons of private life insurance.  There are more advantages than disadvantages.

Owning your own private life insurance is peace of mind. It is in your control. You no need to worry about staying with your employer to maintain your coverage.

Advantages of private life insurance

  • Generally cheaper over the life of the policy, especially for healthy people
  • Leaving your employer does not affect your coverage
  • You can lock in prizes for a period of 10 years up to your lifetime
  • You have more coverage amount options

Disadvantages of private life insurance

  • You have to go through underwriting
  • There is a chance that you may be rejected

Work with an independent life insurance broker to find an out-of-work policy. Brokers have access to several life insurance companies, giving you the best chance of finding affordable coverage, especially if you have health issues.

To own privately term life insurance is the best option if you have a family or other relatives. You can choose from different coverage options to ensure your life insurance needs are covered.

Terms range from 10-40 years, and coverage amounts range from $50,000 to tens of millions. Life insurance prices are fixed— Unlike group life insurance options, these rates will not change.

Life insurance is an affordable way to provide your family with financial backup protection. If you were to die unexpectedly, the death benefit can cover your debt, replace your income and ensure that your family’s standard of living is not adversely affected.

Use our term life insurance calculator to determine how much coverage you need.

Get a life insurance quote from Quotacy

If you have dependents on you, your basic group life insurance through work will not be enough to ensure that your family is adequately protected.

Apply for individually owned life insurance outside of work. If your health condition prevents you from being approved, purchase supplementary voluntary life insurance through your employer.

Learn more about buying life insurance wisely or get an instant life insurance quote. Quotacy is an independent life insurance broker and our non-commissioned staff will help you find the right cover at the best prices.


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