Because the United States is ranked low on the list of healthcare systems around the world, it makes a lot of sense to invest in individual & family insurance. No one can accurately predict when they will need healthcare, life insurance, or other types of protection for unforeseeable life surprises. Though you may think that insurance from your employer is the best option available to you, individual & family insurance actually provides a lot of benefits that your employer’s plan lacks.

To begin, you need to understand that an individual & family plan can cover a lot more than medical expenses. While employers’ insurance plans are often riddled with extremely specific and conditional clauses as well as loopholes, individual & family insurance will give you more coverage. Consider the following types of insurance that are included in individual & family insurance:

  • Health insurance
  • Dental insurance
  • Life insurance
  • Disability insurance
  • Long term care insurance

Many employers don’t offer insurance at all, and the ones that do rarely offer all of these types of insurance. It is most common to see an employer offer health and dental insurance, but there are some caveats. For example, they may only choose to insure their employee and refuse to cover other family members.

When you depend on your employer for insurance and don’t read the fine print, you are forfeiting control over your financial future. Too many employees have thought they were covered by their employer’s insurance policy only to find out that their unique situation wasn’t covered under the plan. This mistake leaves people extremely financially vulnerable to some of life’s nastier surprises, and you can’t rely on your employer to account for every accident that might come your way.

And life insurance? Forget it. The responsibility of obtaining life insurance is most often placed on the employee. You don’t even need to be the sole breadwinner of your household to benefit from life insurance, either. If your family depends on your income at any level, they will have life insurance to fall back on and take care of their needs in your stead. Instead of making the mistake of thinking that your employer will take care of all your insurance needs without a second glance at the actual policy, your family is far better off if you cover your bases with individual & family benefits plans.

One reason it is so critical to have these benefits in your back pocket is because they increase your financial security. The honest truth is that you don’t know if you will be working for the same employer one year from now. Even if you’re a top performer at your company, markets change, recessions happen, and sometimes organizations are forced to make cuts. In that case, it would be very prudent to have your own insurance policy since your employer is ending your coverage.

Individual & Family Insurance Provider in Chicago

If you want to consider your options for individual & family insurance, just reach out to Benefits Age. We serve the Mt. Prospect, Schaumburg, Arlington Heights, Palatine, areas as well as the greater Chicago area.

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