Individual vs. Group Whole Life Insurance: Which Is Best For Me? -

Individual vs. Group Whole Life Insurance: Which Is Best For Me?

whole life insurance

Whole life insurance is a type of policy that covers the insured for their entire life. This differs from term life insurance, which only provides coverage for a set amount of time – usually between 10-30 years. If whole life insurance is the right path for you, a second decision comes into play about whether you want an individual or a group policy. Read on to learn the pros and cons of each policy and determine which is better for you.


A group policy is typically acquired through an employer. It is included as a part of the benefits package. The benefits to a group package are that often the employer will pay a portion of the cost as part of the benefits package. It is also an easy way to get a policy without putting in a lot of time and research on your own. The downside is that the policies are typically all the same, leaving no room for customization. You are stuck with the policy that your company chooses. In addition, if you leave your job, you will have to get a new policy. Life insurance premiums increase with age, so you will end up paying more in the coming years. Also, if you develop a health condition, it can be harder and a lot more expensive to get an individual policy in the future. Another issue with a group plan is that sometimes the coverage might not be enough, and employees end up having to seek out supplemental insurance.


The biggest pro to getting an individual whole life insurance plan is that you can carry this plan with you wherever you go. The plan is not tied to your job, so you don’t have to worry about losing it due to a job change. The downside to an individual plan is that they are often more expensive since the employer isn’t paying for a portion of them. In addition, the premiums are based on health, which is not true for group plans. If you have a pre-existing health condition, you can expect to pay a higher monthly premium for an individual plan.

Contact Ami Ahuja For Help Choosing A Whole Life Insurance Policy

When it comes to picking a whole life insurance policy, there is no right answer. It is simply about weighing the pros and cons of a group vs. individual plan and figuring out what works best for you. A financial professional like Ami Ahuja is a great resource to contact when you’re figuring out which life insurance plan to choose. She has a lot of experience in this area and can help guide you in your choice. For more information about whole life insurance plans, contact Ami Ahuja today.

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