Premiums increase quarterly? Sorry, I'm not the best person to advise you here. My policy is locked for 10 years as far as I know. Like I said... there are lots of policies. I think the answer depends on two things.

1) Can you afford it if you keep it?
2) Can you afford to die (or rather, can your spouse afford you to die) on the policy you have via your employer?

Some of that depends on your age, the ease with which you can get another policy later down the road when you can afford it, and your debt and comfort level.

I would talk to your insurance agent and explain the situation. I would also talk to your manager. I've know employers are more flexible than we think. You might be able to get mileage (like 40 cents a mile now) for all or part of your daily commute. Or they might be willing to extend your life insurance maximum. Or give you a raise or other compensation in some other manner.

Fair enough. That begs another question. Our insurance is a patchwork of policies. How does one go about obtaining an agent?

Aloha Craig,

Here's what I would do to find an agent. I would ask around to people I know and trust if they have one that they are happy with. I would google your state and "insurance division" to get a list of licensed agents. I think you can also find out if they have any problems or issues. Then I would do a search for for your state and "certified financial planner" and see who is on all three lists. Then call and see if you like them and feel you can trust them.

The reason I suggest both the insurance division and certified financial planner is that they will probably be able to give you more comprehensive advice. I have found in my dealings with insuance agent only and certified financial planners who are also insurance agents is that the former generally thinks you should always get more insurance while the latter tends to take a more wholelistic look and advise according. I truly believe that sometimes insurance is the most appropriate way to go and sometimes it isn't. So, let the buyer beware and try to get objective advice from someone who will look at your overall financial well being and you are comfortable divulging ALL of your financial information to. I say ALL because garbage in garbage out. And I for one would like accurate and appropriate advice.

My two cents.

Thanks!