For application of the law to individual cases, please consult with an attorney or accountant. You may be able to borrow money from your life insurance policy after paying into it for some years. Some policies can be converted to retirement income plans or disability income, or, in the case of terminal illness, to a cash benefit before death. No law requires a company to provide life insurance for its employees. However, some companies do pay for all or part of life insurance premiums as part of a benefit package for their employees.
Policies purchased by an individual are usually more expensive than group insurance policies.
Under Minnesota law individual health insurance policies cannot be more expensive for women than for men. Coverage of pregnancy and related conditions is not always provided in health insurance polices purchased by individuals. Group health insurance through employment must cover pregnancy to the same extent as other temporary medical conditions. No law requires that employers pay for health insurance for their employees. Persons who are unable to get health insurance due to a previous medical condition or disability can buy it through the Minnesota Comprehensive Health Association.