Placing your bets on a group life insurance is the same as putting all your faith into your company. Companies are usually profit-driven entities who will succumb to pandemics such as the covid-19 or changing industry/economic needs. Besides, group life insurances may only insure up to 1 or 2 years of your annual salary.
Though the option to purchase a higher group life insurance coverage is always on the table, having secured your very own life insurance policy is a wise decision to be self-sufficient in the long-run, and to anticipate the changing environments which potentially precedes your unemployment for a firm’s profit-oriented goals.