Group Term Life Insurance vs. Individual Life Insurance
Group Term Life Insurance vs. Individual Life Insurance
Listen to Byron dispel the myths and explain the truths about group term insurance you get at work, and an individual life insurance policy you purchase on your own.
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Get the gist of the video here!
You might wonder which one is better, but
most of the time group insurance is just a token of what you really need, but typically the free stuff at work won’t replace your economic value. Also, if you lose the job, you lose the coverage – it doesn’t follow you.
The free coverage is nice to have, but more than likely not enough coverage to really protect those who love you.
Does Insurance companies gives/pays dividends to employers or to the employees?
i like it
Best video on the topicš„š„š„š„
Hereās what I donāt understand about keeping a life policy past retirement. Retirement means you donāt have any labor income. What would a life insurance coverage look to replace? I understand a lot of benefits for rich individuals with desire to transfer as much to their heirs as they can, and life policy can help a lot. But for other āaverageā person who chooses to retire at 65, why would he/she want or need the coverage? Thatās pensionās job, and buying life to replace pension is obviously a super stupid idea. Iām never convinced by the argument of ābeing able to carry policy thru retirementā – that only applies to the wealthy.
Level Term don’t happen to have a cash surrender. š
Pretty well said!
But I mean, if it’s free, take it while you are there up to age 30-35, right? Once you are around that age, smarter thing would be to get an individual plan… right?
Thank you. Liked it. Well explained.
in chare for you
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Nice video ššš