Are you paying for life insurance through work?

If so, there's a good chance you're overpaying for inferior coverage, and that your rates will rise significantly over time.

Getting your own policy outside of work is often a better option -- in many cases, you save money immediately. It also lets you avoid future rate increases and gives you the peace of mind of knowing your coverage stays steady even if your job changes.

In this video, we use FEGLI (the workplace life insurance offered to federal government employees) as an example because it’s a very clear illustration of how many workplace life insurance plans work, including those offered by private employers.

You’ll see a real comparison between FEGLI and an individual 20-year term policy for a 50-year-old client, including how the pricing works and why the individual option turned out to be much more attractive than she expected.

If you’re exploring your options, you can begin by getting quotes for life insurance.