When someone looks at their budget these days they immediately start looking for things that can easily be eliminated. This is a good practice to do from time to time, regardless of the economy. A slow economy is a good time to look at life insurance because you are assessing your costs and liabilities critically. When doing this it is simple to identify what your needs are if an income were to cease due to a death in the family.
Additionally a market time like this helps you assess how much you should really be depending on that group life at work. Can you really control whether that job and group offering will be there tomorrow? Also you need to ask yourself whether you really plan on working until the day you die in order to keep that group offering in place.
Owning a personal policy can accomplish an uninterupted plan to account for each of these. Term plans with conversion options can often times make coverages affordable even on a tight budget, while protecting ones insurability and liabilities they have as a family.
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