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Is voluntary life insurance a good option to take ...

Is voluntary life insurance a good option to take advantage of even if the company you work for already offers it?

I just got out of college, I'm 22 and healthy and already have coverage from the company I work for. My company offered employees the option of voluntary life insurance that can travel with you even after you leave the company or are at one point are unemployed. It would cost $15/month and the premium will never change. 

Do I need this? Is it worth opting in? Should I wait? What are some of the pros and cons to opting in on voluntary life insurance?


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I am Adam Alter !

Life insurance is often a responsible decision.  If something happens to you, the last thing you want is to stick someone with the bills.  Of course if there's nobody in your life you worry about if you were to die, then I guess there's no reason to get it.

Regardless of how healthy someone is, people often decide to get it to protect a loved one if they were to die so that the loved one didn't not only suffer for the loss, but financially.  So if you have a wife, child, or family member that depends on you and your income, you should consider it because accidents happen.

If you do decide to go for it, make sure you shop around to verify the deal through your work truly is the best deal for you.  Many places offer free quotes with no obligation.
Posted 2009-09-17T18:29:41Z
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Excellent points Adam.  I would be curious about the level of coverage being offered.  Shopping around and comparing not only cost but other product features is critical.  I suggest you contact an agent in your area or do some research online.  Having an agent explain things may work best for you though.  I hope this helps.

John F.
Posted 2009-09-21T19:56:38Z
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Hello everyone i am completely new to this forum.
Interested in learning many new things. Hope we all will share our
knowledge and talk about different concepts in this forum.

life insurance is a very nice insurance....

cheap car insurance --cheap car insurance
Posted 2009-10-06T18:08:17Z
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There are several disadvantages to having only a group life insurance policy through your workplace. Group policies are not based on individual health. Irrespective of factors such as health conditions, gender, age, etc. everyone in a group policy is grouped together in one category. This works in favor of those who suffer from ill health or who are older. But for those members who are young and still healthy, they might end up paying more than is necessary for their coverage. Group costs also tend to increase when a member enters the next age bracket and the rates are not guaranteed either. Individual term insurance can be fixed to remain level for specified periods of coverage. Individual term life policies are usually guaranteed renewable. At the end of the day though, what is most important is that you take out an insurance policy – whether group or individual and thereby offer a secure future to your family and loved one. Denise at AccuQuote Disclaimer: I work for AccuQuote and this is my personal opinion.
Posted 2009-10-28T12:41:44Z
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