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When you got a job offer from any well-reputed company, life insurance coverage comes as a perk with some other benefits. This is a great perk you can have from your company.But the question is when you have this advantage in your life with your job then why do you need another life insurance policy. Even your company will fund your life insurance policy and the coverage amount you will have at the end is a good amount. But we will clear this question later. First, I would clear you the advantages and benefits you will get from your life insurance your company will give you. Also, it is called a group insurance policy.

Following are the advantages:

a.       Automatic clearance.

When you got a job and that company gives you the facility of life insurance coverage, you automatically clear for the policy. Yes, your company will enroll you for the life insurance policy and the insurance company will not reject you. So, it is easy to get a life insurance policy when you are an employee of a good company. You will have to face no extra documentation or any type of burden. With the bad health condition even, you willget a life insurance policy at a low rate. If you will apply on your own with the bad health, you will get it at avery high rate.

b.      Low premium costs.

Life insurance you will get through your company will give you a very low premium cost. But in many cases, your company gives you free life insurance coverage policy. All the characteristics mentioned in your job contract. You will get to know all the thongs regarding premium and insurance coverage when you read and sign your job contract. But if you buy life insurance on your own, you will get an expensive premium of policy.

c.       Requires low efforts.

You can get life insurance with low or zero efforts. All the efforts required in the buying of life insurance, are the responsibility of your company. So, it is very easy to get life insurance through your company. Otherwise, it requires a lot of efforts and time. It requires a lot of documentation and it becomes hectic for most people. If your company is paying the premium amount, the fixed rate will cut from your salary without giving you any tough time.

So, it is clear now it is the easiest way to get a life insurance policy but the advantages and the benefits are not enough though. All the considerations are great but you need more from the life insurance policy, of course. So, why the company life insurance is not enough for you, the answer is here below:

·         If youremployer will fire you froma job for any reason, you will not get any benefit from your life insurance policy.

·         If the conditions of the job get change, the condition of the coverage will also change.

·         You cannot decide on your own premium and coverage amount.

·         You have no opportunity to change your insurance policy or to raise it during the same job.

·         If you get a new job, there is no surety you will also get here life insurance policy.

·         When you get to retire from the job, your coverage policy will get the finish.

·         Your company can change the insurance policy at any time or it can terminate your coverage for no reason.

·         You have limited or I must say no authority to select your own choice life insurance policy.