If you’re like many Americans, you’re pretty confident that you have a grasp on when and why to buy life insurance. While we hope that you are, in fact, well informed about life insurance coverage, there are a few common myths we would like to dispel in today’s post. If you ascribe to any of the following beliefs, we hope to give you a new perspective.
Healthy People Don’t Need Life Insurance
This common belief can lead to costly mistakes. The fact of the matter is, life insurance is easy to secure and highly affordable if you purchase coverage when you are young and healthy. If you wait to purchase coverage until your health is failing, you will either face high premiums or be unable to secure coverage at all. All too often we hear from people who have just received a bad diagnosis or are beginning to notice a decline in their health. Often, it is too late or too expensive to secure coverage; this is precisely why we urge you to compare term life insurance rates today. After all, you will never again be as young as you are today!
Those With Existing Assets Don’t Need Life Insurance
This common myth has left many families in financial ruin. Many people under-estimate the cost of final expenses, medical bills, estate taxes and other debts they may one day leave behind. This school of thought also fails to take long-term financial responsibility into consideration. Are you planning to send your kids to college? What about that vacation home you and your spouse hope to one day buy? If you are no longer around, many of your family’s long-term plans may be foiled. This is where life insurance comes into play; rather than leaving your family in a tough financial situation, why not have a policy in place?
Wait to Buy Life Insurance Until You Really Need It
This myth is very similar to the first myth we discussed. Many consumers are under the misguided assumption that they can simply buy life insurance when they need it. Or that they will somehow have the foresight to purchase coverage just in time in the future. Don’t put your family’s financial heath on the line, carry the protection they might one day need.
If you, or a loved one, are putting off buying life insurance for any of these reasons, we urge you to compare term life insurance rates today. You just might be surprised to learn how affordable coverage can be. Let’s get started. Request a quote and compare term life insurance rates now!
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