Death isn’t the most popular topic of discussion, but it’s also not the only reason people avoid discussing and researching their options for life insurance.
Many false assumptions are floating around about life insurance. Bell & Associates is here to clear up some of those common misconceptions, so you no longer have to play the guessing game!
Ready to discuss your life insurance options? Contact us today!
Myth #1: Life Insurance Is Expensive.
The most common misconception about life insurance is that it’s expensive. This is TOTALLY untrue! Most life insurance policies can cost as little as $1 per day! Not as scary as you’d think, huh? And not only that, your life insurance coverage can be used towards things such as mortgage protection, educational expenses, and even temporary income replacement.
Myth #2: Young People Don’t Need Life Insurance.
Again, not true! Actually, the best time to purchase life insurance is when you’re young and healthy. Think about it: if you wait until you’re older and more likely to have health issues, it would only make sense for your premiums to be more expensive because it is a more significant risk. However, that still doesn’t mean that your premium will cost you an arm and a leg – there are still affordable options for you. So try to work to purchase a life insurance policy for yourself now – your older self will thank you for it!
Myth #3: If You Are a Stay-At-Home Parent, You Don’t Need Life Insurance.
This is another common life insurance myth that is painfully untrue. First of all, being a stay-at-home parent is a full-time job, so never discredit their role in the family. Secondly, employment status does not make anyone immortal. Therefore, stay-at-home parents need life insurance too! Consider what would happen in the stay-at-home parent were to pass. The other spouse would have to take off work to help the family adjust,, and a life insurance policy would help with that transition.
Myth #4: Life Insurance Companies Won’t Cover Older People.
Many people assume that older people, after a certain age, can’t possibly obtain life insurance, but this is also a myth. Older people can still get coverage! Again, keep in mind that because you are older, your policy will be more expensive than if you were much younger.
Myth #5: All Life Insurance Is The Same.
Our last common life insurance myth is that all life insurance policies are identical. Life insurance is flexible, meaning that there are different policies available for different needs. Life is constantly changing, and so are your needs – why wouldn’t your life insurance policy be the same way?