Thank you for the reply. I'm not sure if it's level. If my salary
goes up so does the coverage. For example, let's say that I selected
2X my salary. If my salary increases then so does the coverage. Does
the cost go up? I am not sure of this. Why would this matter? I
already mentioned that I can get 20 year level term for much less. I
did some more research. Last year when I was 44 the cost was 22/month.
When I turned 45 the cost went to 34/month. Then at the beginning of
this year the cost went to 45/month all for the same coverage.

RJ wrote:
- quote -

You do NOT mention whether or not that WAS or currently IS a LEVEL premium.
In all probability you just "matured" from one age group to another, and the
premium should remain constant.
In most cases, the employer is paying some portion of the premium. IF this
is NOT the case, then you should most definetly (if you can qualify) purchase
your OWN Life Insurance (of whatever flavor YOU chose).
Cal Lester CLU

I would appreciate advice on the following. I just turned 45 and my
company group life insurance cost doubled from $22 to $45 per month for
$266K of coverage. I went to insure.com looking for some quotes and
was quite suprised that I could get 300K of 10 year level term for much
cheaper that I am now getting. Is this standard practice for companies
to be ripping off their employees? The nice thing with coverage
through work is that the coverage does go up automatically with salary
increases. Should I be looking to lock in for 20 years since that
would cover me to 65? Is there a formula for figuring out the amount
of life insurance I should have? TIA