Individual Life Insurance Vs. Company Sponsored Plans
October 17, 2015
We often get asked the question; “is it better to buy my company provided life insurance or buy life insurance on my own?” As with most things insurance-related, there are big variations in life insurance coverage and price. We recommend you consider looking at an individual plan first. Let’s look at some of the differences between group life insurance plans and individual plans.
Group plans tend to have higher premiums and can’t be tailored to your needs
Group plans have a limited amount of coverage you may buy and choice of insurers is limited
Group insurance is not portable, you can’t take it with you if you change jobs
You have the option of higher limits
The policy is portable and can be adjusted as your life needs change
At CCB Insurance Services we believe our greatest asset is the relationships we build with our clients and we are dedicated to being the right choice for all of your insurance and financial needs. We take pride in our ability to tailor a comprehensive insurance package that maximizes your insurance protection while minimizing money out of your pocket.
Insurance products are offered by CCB Insurance Services LLC, not by Clackamas County Bank. CCB Insurance Services LLC is licensed as an insurance agent and acts as agent for insurers. Insurance policies are obligations of the insurers that issue the policies. Insurance products may not be available in all states.
Insurance Products: • Are NOT Deposits • Are NOT FDIC-Insured • Are NOT Insured By Any Federal Government Agency • Have NO Bank Guarantee • May Go Down In Value.
In the case of an application for credit in connection with which an insurance product is solicited, offered, or sold, the bank may not condition an extension of credit on either the consumer’s purchase of an insurance product from the Agency, or the consumer’s agreement not to obtain insurance from another entity.