How Much Do I Need

Differences Between Employer Coverage and Coverage You Can Buy on Your Own

 
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Todd: Everybody’s situation is a little bit different. Typically the insurance that you have through your employer — First of all, you don’t own it.  Your employer actually is, it’s a group policy so if you leave your employer, the policy doesn’t go with you.  It basically ends when your employment ends.  So if you got to your employer when you were 25 years old and you’ve been there for 15 years and you’ve had some changes in your life over the years.  You’ve gotten married or had children and now your needs have changed from an insurance perspective.  If you leave, now all of a sudden you have no coverage. You’re 15 years older.  It is going to be more expensive to buy your own coverage. So there is a lot of things that you have to take into consideration. So it’s best off that you have some type of a policy through your employer if they do provide it, but also look for your own individual coverage that is always going to be there for you no matter what position you’re in as far as employment.

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