There aren't many people who enjoy thinking about death in any form. If given a choice, many of us would rather mow the lawn or even undergo a root canal than sit down and make plans for the afterlife. For some, though, perpetual avoidance of discussing important issues like this can be costly, particularly for those who are left behind.
Is Death Phobia Really a Thing?
If you're truly afraid of dying, you're not alone. This is a real phobia with a name, Thanatophobia, the fear of dying, fear of being cremated or buried, and fear of the unknown. While not everyone may have a fear to the degree of this phobia, reluctance to think about or discuss death is still quite common.
Penn Mutual conducted a survey recently about leading topics for dinner table discussion. A majority of respondents were excited about discussing uses for lottery winnings or super powers, with last place subjects being about death and dying and life insurance. LIMRA's Insurance Barometer Study confirms this. They found that 30% of people avoid buying a life insurance policy because they don't like thinking about death.
The Necessity of Planning for the Inevitable
Your loved ones probably don't like thinking about death either, but they're sure to be really grateful if you work through your fears and buy a life insurance policy. Too many people, as many as half, avoid buying life insurance for some irrational reasons. Then, when the inevitable happens, or worse, a tragic event occurs, families don't have the means to pay bills, fund education, or live comfortably in retirement. This is just another one of those instances in life where working through fear will pay off in the long run.
Choosing the Right Life Insurance Policy
Buying a life insurance policy isn't nearly as complicated or as expensive as many believe. While there is some insurance jargon involved and terms of a basic policy to undertand, our agents can easily decipher these for you. When you choose a life insurance policy, the type of policy you select will depend on several factors.
If you are below retirement age and would like to stay within a strict budget, you might want to consider a term life insurance policy. This is the most affordable type of life insurance on the market. On the other hand, if you'd like a policy that will have an investment component and that won't expire, you can take a look at a whole life or universal life insurance policy. Both types of insurance have their advantages, including some particular tax benefits for your beneficiaries.
Unfortunately, not thinking about something or avoiding action doesn't make it go away. Mortality is a fact of life for every one of us and planning for your family's financial future is the most responsible action you can take. Contact us to complete a simple needs assessment or to request a quote now.