Often times, employees have life insurance automatically from their employer, or from a union or trade association. Having a group policy has a few advantages, comparing to an individual life insurance policy. First, you can get a lower rate for a given death benefit. That happens because the rates are averages weighted by people younger than you or because the sponsor subsidizes the premium. Also, there are no health qualifications, and lastly, you will not forget to make a payment because the premium is deducted from your payroll.

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