Employer Provided Insurance - Is It Enough?

Say you work for a company that offers all employees life insurance. The rates seem low; some may even be free. You feel protected because your job provides you with life insurance benefits. But how much coverage is enough coverage?

Don't forget the cautionary tale of the unfortunate husband and father who left his family financially burdened, leaving behind just 30,000 in benefits from the company policy given to him at work. Had he purchased an additional individual policy, his wife and children would have received enough to provide them with basic care for decades. Remember that employer-provided death benefits often neglect to include commissions, bonuses, and retirement contributions.

If you lose your job for whatever reason-- the company closes, you change jobs, or even switch from full-time to part-time-- your insurance benefits go out the window! Most people don't plan for an alternative coverage option in these cases, but it's important to make sure you're covered no matter what. Another similar issue to this one is job loss due to a sudden medical condition that would keep you from working... just when you need insurance the most.

Taking advantage of any free or inexpensive insurance offered to you by your employer is great, but should it be your only source of life insurance? Probably not. Jobs can be fleeting, and life can change forever in an instant. Remember to buy young, at your healthiest, when insurance premiums are lowest.

With an individual or family plan through B&B Insurance, you're always covered, no matter what your situation may be.

Financial Tips for the Self Employed

As the tides of business change so does the structure of business culture. There is a growing trend of freelancers, remote employees and independent contractors among the small business and corporate communities. The transition to more flexible work structures creates the need for unique management of one's finances and a strategic plan for future financial goals.

More and more of us have jobs that produce uneven incomes. We will make a lot of money one month, but then very little for the month or two after that. The lessons of how to make those fat times cover the lean times are particularly useful at this time with an uncertain economy weighing on everyone’s mind. Having an uneven or uncertain income, may seem like a tough road for the salaried employee, but it is an everyday way of life for millions of Americans who work as realtors, mortgage brokers, commissioned sales people, freelance consultants, and many more.

— Money Tips for the Self Employed