One of the key reasons that a lot of people avoid getting life insurance is because they have life insurance through their work benefits. Here it is called group life insurance, with a typical cap at approximately 2 years of the annual salary. For many, this would be considered a stipend in the event of a passing in the family.
At Lee Insurance Agency LLC, we want North Carolina residents to have as much coverage as they need for their families. It is never a bad idea to get more life insurance if you can, and there are ways to determine if you should top up your group life insurance
Dependents and Mortgage Expenses
Your life circumstance will help you to determine if you need more life insurance. If you have dependents that you want to take care of with income replacement if you die, another life insurance policy is a smart choice.
You may also have a mortgage, in which case you would want that expense covered for them after you pass. A group life insurance policy is usually not able to meet all of those needs.
Another key reason you may want additional life insurance is if you are concerned about your job security. In this day and age, most people are. If you are not sure about your job position, you may want additional life insurance.
You don’t need to feel your job is at risk for this. You may change jobs on your own in the future. If you aren’t sure, consider getting more life insurance.
Get a Quote
When you are working and are a member of a group life insurance policy, it is natural to wonder if this is enough. It probably isn’t, particularly if you are concerned about any part of that policy. At Lee Insurance Agency LLC, we can help North Carolina residents get all the life insurance coverage that they need, even if you have group insurance. Call us for a quote today.