Avoiding Gaps in Life Insurance Coverage
In a recent meeting with a
client it was discussed that most people are not aware of what happens to their
life insurance benefits when they retire. Most group term policies, which are
generally low cost term life insurance protection, simply end when employment
ends. In some cases you may “convert” your existing insurance into a permanent
style policy. If this is not an option, the coverage ends leaving a gap in life
insurance protection.
You should always consult
with a life insurance agent for help reviewing the insurance jargon in your
group policy. In some group policy cases term benefits decrease in face amount,
declining vastly after age 70. Some larger companies have even eliminated
coverage for spouses’ life insurance policies. For these reasons it is very
important to review your life insurance and retirement plan with a financial
advisor, especially when you decide to retire or separate from employment.
Purchasing an individual life insurance policy can give you peace of mind and
fill in gaps left by your group insurance policy.
At Newsad Insurance
Services we believe in knowledge, trust, and service for each of my clients to
ensure that each client is prepared for the present and the future.
Tom Newsad and Elaine Dominy of Newsad Insurance Services
serve Middletown , Monroe ,
Franklin , Trenton ,
Oxford , Dayton
Today, USAA Travel insurance in USA policy is still targeted towards associates of the U.S. Army and their family members. In addition, they have a associates program that allows individuals to get additional discount rates on things like financial and insurance policy. In fact, the USAA website statements that you can save an average of $461 on auto insurance policy when compared to opponents. However, this is something that customers will have to confirm themselves through a quotation.
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