Things you need to think about when you are unemployed...

I've had several friends who have recently lost their jobs who in addition to facing the loss of income, also realized that they no longer had life insurance because they relied on their employer provided life insurance policy to cover them. A few discovered that even when a company promises to provide you the ability to continue that formerly employee provided coverage, it can cost more than if you made arrangements for an instant life insurance policy. It's important to ask about this from your former employer and it's also important to compare the costs. There are times when it's a more cost effective option to continue the coverage through the company you used to work for, but that's not a given. It makes sense to do some quick comparisons to make sure with your financial picture already tightening, you are getting the best price for the amount of coverage you need.