I have group coverage (at work)
I can certainly understand how you feel and I'm sure you enjoy the benefits your employer provides you. Most people feel that if they have group term insurance now they don't need personal coverage outside of work. However, let me share with you a story of a postal worker.
Would you agree that government employees are typically better covered than employees whose plan is purchased by ehte average employer out there?
Well, after the father of a friend (who now works in our company) was severely injured in a car accident the wife called the HR department to verify the fact that he was covered because he was in critical condition. They assured the family that he was covered as long as he was a legal employee and on the payroll. Well, after a period of them he fell off the postal payroll and shortly thereafter died due to his injuries.
What do you think the HR person said regarding his group life insurance weeks after the father was no longer an employee?
The widow and the family didn't get a single penny after he had worked for the post office for over 15 years.
So if you're disabled, how long will your current employer keep you on the payroll as a legal employee?
Would you agree that they're not going to keep you on forever?
So, we probably shouldn't rely completely on the current group coverage offered to provide for 100% of the support of your loved ones then, should we?