There are a lot of misconceptions about life insurance. In fact, a majority of people don't buy a life insurance policy because they grossly overestimate how much it's going to cost. For the record, life insurance is surprisingly affordable for most Americans.
Cost aside, there are still a lot of lingering questions that people have about this important coverage, some questions they'd rather not ask anyone in person. If you're still on the fence about protecting your family's financial future, here are just six common questions about life insurance and their answers.
Am I too old to buy a life insurance policy?
Unless you're over the age of 75, you can still purchase a term life insurance policy. In fact, there's really no age cut off to buy a whole life policy that covers burial expenses. It's important to understand, however, that life insurance is much more affordable the younger you purchase a policy, so locking in a rate early is the best strategy.