.png)
The company provides general insurance such as health, life and disability insurance. The benefit you choose will be determined by your own circumstances.
Also, some companies may provide you with a variety of perks to choose from, while others may only provide the essentials. However, be sure to check out the various amenities they have to offer!
Most people understand the importance of health insurance, but not many understand about life and disability insurance. Here's a suggestion: Take some time to determine how much life and disability coverage you need.
Your employer's life insurance is the lowest you can find, usually because your company pays most, if not all, of your premiums.
Often, they will give you a certain level of coverage at a different price, or they will ask you to pay an amount equal to one or two times your salary.
If what they offer is not enough, talk to an insurance representative to assess how much additional coverage you need to cover the gap.
Having the right life insurance is important because if your family has two breadwinners and one of them dies or no longer exists, the surviving family members will definitely enjoy the ability to have the money to cover recent expenses and continue their lifestyle. They are currently.
The bereavement process can be stressful on its own, but adding to the financial problems will only make it more difficult for your family.
The same limitations apply to disability insurance. Your company pays most, if not all, of your premiums. Many of us don't see the benefits of getting disability insurance, but here are some things to consider.
How will you pay if you are too sick or injured to work? If you answer this question by claiming that you have enough emergency cash (3-6 months for expenses) then you are probably fine. If you don't have that amount, disability insurance will help.
Basically, it allows you to continue living your current lifestyle. Most fail to build critical emergency funds, forcing them to rely on other resources, such as investment or retirement accounts, or credit cards.
If possible, these resources should not be used. Your company can only offer short-term disability insurance or a mix of short-term and long-term disability insurance. Remember to read your benefit plan as this is something you should know.
Again, as with life insurance, if your business is not providing enough, consult an insurance agent to assess how much coverage you need to cover the gap. [You know, you can never get 100% disability insurance because if you can get 100% of your paycheck without working, you will never work again.
It is important to thoroughly understand your insurance quote at work. There may be holes throughout your insurance plan, and you should make sure they are addressed.
Financial strategy is built on insurance. If you are not properly protected, your investments and retirement assets are at serious risk.
Consider this: if you were building a house, would you start from the second floor? of course not! ! You lay the foundation so you can move on to building the rest of the house.
A lot of research has been done on the number of uninsured people in our country; please don't let this be you. Whether you care about insurance research or not, just ask a family member or close friend if they or someone they know has been harmed by a lack of insurance... and you'll see.