Common Misconceptions About Life Insurance
I’m young & Healthy. I don’t need life insurance.
If 1 buy a 30 yr term plan, I'm locked in to making payments for all that time.
I’m young & Healthy. I don’t need life insurance.
FACT:
Changes in health can happen in an instant. Buying life insurance while you are young and healthy generally ensures premium rates are at their cheapest & locks those rates in for decades.
I WONT BE DENIED COVERAGE because I am healthy.
If 1 buy a 30 yr term plan, I'm locked in to making payments for all that time.
I’m young & Healthy. I don’t need life insurance.
FACT: Healthy people get denied for a long list of reasons. For example, many insurance companies will deny you for having a DUI or taking certain medications!
10 worst medications to take while applying for life insurance.
If 1 buy a 30 yr term plan, I'm locked in to making payments for all that time.
If 1 buy a 30 yr term plan, I'm locked in to making payments for all that time.
If 1 buy a 30 yr term plan, I'm locked in to making payments for all that time.
FACT:
The length of the term plan is a guarantee from the insurance company that your premiums will not increase during this period. You are free to cancel at any time, but it's typically better to hang onto your policy because when you're ready to buy coverage at a later date, it will cost you more since you're older. If you have an adverse change in health history, you may become uninsurable all together, and unable to buy life insurance.
A stay-at-home parent doesn't need to have an individual life insurance policy.
I have life insurance through my place of employment. I don't need an individual policy.
If 1 buy a 30 yr term plan, I'm locked in to making payments for all that time.
FACT:
A stay-at-home parent makes a substantial contribution to the household, even if no paycheck is coming in, due to the savings your family may experience for out-of-pocket costs like childcare outside the home or housekeeping services. Life insurance can help cover these, and more, in the event of an unexpected loss.
I have life insurance through my place of employment. I don't need an individual policy.
I have life insurance through my place of employment. I don't need an individual policy.
I have life insurance through my place of employment. I don't need an individual policy.
FACT:
Group insurance with an employer may not
be enough to adequately cover everything you want to have taken care of. And, what happens when you leave, or lose your job? Does your coverage follow you?
I own my home and it is my biggest asset.
I have life insurance through my place of employment. I don't need an individual policy.
I have life insurance through my place of employment. I don't need an individual policy.
FACT:
You likely have homeowners insurance, but YOU ARE THE BIGGEST ASSET to those you love and depend on you. INSURE YOURSEL!
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FYI: Click “Death Benefits” to see “Term“ policy prices, which is the most affordable policy to easily secure your assets and dependents with the most coverage for the lowest monthly cost. The best time to get life insurance was 20 years ago. The second time is NOW!
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