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August 17, 2020

What to do if losing your job means losing life insurance

  • The terms of your most recent policy, your health, long-term financial plan and employment status, all play a part in deciding what to do next.

    The coronavirus pandemic continues to disrupt the U.S. economy as businesses both big and small cut back, close and declare bankruptcy. Consequently, a reported 16.3 million Americans were unemployed in July compared to just over 6 million the previous year, according to the Bureau of Labor Statistics.

    In addition to losing their paychecks, many Americans also have lost their workplace benefits like life insurance, which can offer peace of mind in the event of an unexpected death.

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