Should I convert my employer-paid life insurance to an individual policy?

Share
More

Some employer-paid life insurance policies can be converted to an individual policy if you leave the job. There are two things to consider before you decide whether to take this option:

  • If you're young or in good health, you may find similar policies in the marketplace that cost less

  • If you're older or in poor health, you may have a hard time finding an affordable policy on your own.

Either way, you should do some basic comparison shopping before you make a final decision. You can also contact a broker or agent to help you determine you're getting a good deal by converting your existing plan.