Life insurance is one of those confusing things. Either you’ve been told you don’t really need it or you’ve heard that you absolutely must have it now.
There are plenty of myths surrounding life insurance. Get the facts and then work with one of our professional insurance agents who can help you find the best policy for your situation.
Life Insurance Myth 1: Your health doesn’t really matter.
If all you want is a simple plan to cover the cost of your funeral, your health may not matter all that much. If you’re looking to create an inheritance for your family and want a larger policy, your health is very important. Even if you want a small, simple plan, your health will affect the price you pay for your policy.
Life Insurance Myth 2: You can’t negotiate in life insurance.
A good agent knows how to find the best deal. When the first offers come in, we take the best ones and use those as a jumping off point to get better terms. The first offer you receive isn’t always the one to take.
Life Insurance Myth 3: The coverage your employer provides is more than enough.
Many people will only receive up to two times their salary, although a few may receive four times. If you have any dependents and want to make sure that their futures are secure, you really need a policy that pays out five to eight times your salary.
Life Insurance Myth 4: Stay at home parents don’t need life insurance.
It doesn’t matter if mom or dad is the parent who stays at home, if something happens to them, the cost to replace their functions can be astronomical. Stay at home parents cook, clean, watch the children, run errands, and do plenty of other necessary things. In the tragic event that they die too soon, the surviving parent will need to pay someone to help do these things. A life insurance policy can help cover those costs.
Life Insurance Myth 5: Life insurance is only for older people.
Because anything can happen at anytime, life insurance is for anyone and everyone. More pragmatically, when you purchase life insurance at a younger age, when you’re also healthier, you’ll pay less and often find better policies than when you’re older. While you should consider a life insurance policy even when you’re young and single, you’ll definitely need it when you start a family. It will give you the peace of mind of knowing everyone is taken care of if the worst happens.
Don’t put off buying a life insurance policy for another day. Now that you know the facts, it’s time to talk to someone who can help you find the best policy for your current situation and your future goals. Contact us today.