Employer Life Insurance vs. Your Own Policy in Katy
Employer-provided life insurance is a useful benefit, but it usually ends when the job does and is often limited to one or two times salary. A policy you own stays with you through job changes. Many households use both.
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What employer coverage typically looks like
Group life insurance through an employer is commonly one to two times annual salary, sometimes with an option to buy more. It usually requires no medical questions up to a limit, but it is tied to employment — when you leave, the coverage typically ends or must be converted at a higher cost within a short window.
What your own policy adds
An individual term policy stays in force regardless of where you work, for the term you choose — often 10 to 30 years. You lock in pricing based on your age and health when you apply, which is why applying earlier generally costs less. Coverage amounts can match your actual obligations: mortgage, income replacement, children's years at home.
- Employer coverage: convenient, but tied to the job and often limited
- Your own term policy: portable, sized to your household, level pricing for the term
- Conversion windows after leaving a job are short — check them before you need them
How much coverage is enough?
A common starting framework adds up income replacement for the years your household depends on you, plus the mortgage and other debts, minus existing savings and coverage. The right number is household-specific; a short call can work through it without obligation.
Common questions
Can I keep my employer life insurance if I change jobs?
Sometimes, through a conversion or portability option, but the window is short — often 31 days — and converted pricing is usually higher than an individually underwritten policy. Check your plan's certificate before leaving.
Do I need a medical exam?
Not always. Many term policies now use accelerated underwriting with no exam for qualified applicants, though health questions still apply and approval is not guaranteed.
Is term or permanent insurance right for me?
Term covers a set period at lower cost and fits most income-replacement needs. Permanent insurance costs more and builds cash value. The fit depends on your goals and budget — worth a conversation, not a guess.
Talk it through with a Texas agent
A short call can narrow the realistic options for your situation. We discuss plans we represent, not every plan on the market.
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Disclaimer
TXInsurance.com is not HealthCare.gov, Medicare.gov or any government agency. Licensed in select but not all states. We do not offer every plan available in Katy. Eligibility, benefits, networks and pricing must be confirmed in the official carrier quote and policy documents.