There are two common life insurance options: Employer-provided or self-purchased through an insurance company.
Employer-Provided vs. Personally-Purchased
Should you get your life insurance through your employer? On your own? Both?
The best answer depends on your specific situation, but here’s a quick comparison of these two widely used approaches to purchasing life insurance.
One Size Does Not Fit All
This doesn’t have to be an either/or scenario — there really is no one right answer.
The most conservative approach would be to avoid relying on employer-provided coverage since it could end unexpectedly, leaving you with no coverage and a need to buy individual coverage at a potentially very high price at a very inconvenient time.
On the otherhand, covering your life insurance needs on your own could be too expensive given how much individual coverage costs in comparison to employer-provided coverage.