Group benefits are an important part of the total income package offered by employers. Health, disability and life insurance benefits can be the deciding factor for choosing one job over another. Group benefits can be particularly important to those of us with pre-existing conditions. The ability to offer an employee the ability to qualify for quality insurance, that would otherwise be inaccessible, is a tremendous benefit that builds loyalty and employee retention.

If you are lucky enough to be healthy, you should consider supplementing your group insurance with an individual policy. Losing a job, employers discontinuing group coverage and the desire to start a new business are situations that have become more prevalent in our new economy. Unfortunately, each of these scenarios can leave you exposed to a tremendous amount of risk if you do not have individual coverage.

An individual health, disability and life insurance policy is portable which means it stays with you even if you are in transition or if your employer can no longer afford to offer group benefits. Individual coverage can be customized to meet your specific needs and may even be less expensive than the coverage offered through your employer. Purchasing individual coverage can protect you from the risk of finding yourself uninsurable without any coverage.

The issue of insurance is delicate and personal. You may decide to take full advantage of your employer coverage, purchase individual coverage or both. Either way, it is very important to make sure you fully understand your insurance options and the impact of an unexpected transition in employment.