There are a few misconceptions about life insurance let's take a look and see what is a myth and what is true about life insurance -
1. MANY PEOPLE THINK THAT LIFE INSURANCE IS EXPENSIVE.
Well yes it could be if you don't shop around but if you work with an independent insurance agent you can save as much as 50% on your monthly premiums for the same type of life insurance this is very powerful so don't make this mistake before applying for a specific policy talk to an independent agent in your area and compare your options.
2. ANOTHER MISCONCEPTION IS THAT YOU DON'T NEED LIFE INSURANCE.
If you are young and healthy this is wrong in fact you do and you can get a very good deal on a thirty-year term policy and lock the rate when you are still young and healthy if you wait until you're older you will certainly pay much more each month you will be older right and maybe your health won't be ideal and that also affects the rate procrastination of getting life insurance also means that by the time you need it it could be too late you will never be younger than you are today.
3. NOW THE MISCONCEPTION IS THAT IF YOU ARE SINGLE THEN YOU DON'T NEED LIFE INSURANCE.
Well single people may have children may be planning to get married or have parents that are aging or you may own a business or have dead or need to pay mortgages student loans car loans and so on life insurance benefits can cover that debt.
4. HERE'S ANOTHER MISCONCEPTION LIFE INSURANCE IS COMPLICATED.
Life insurance isn’t as complicated as you think. The first thing to understand is that you only have two types of life insurance you consider -
Term - This life insurance is that only covers you for a specific number of years. Term life insurance usually has a term of 10, 15, 20, or 30 years. This is also the cheapest type of life insurance policy you can buy.
Permanent - This is life insurance that covers you for the rest of your life. Permanent life insurance almost always includes a cash value which builds over time. You can borrow against this cash value when you’re older, too.
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| Myth and Truth About Life Insurance |
1. MANY PEOPLE THINK THAT LIFE INSURANCE IS EXPENSIVE.
Well yes it could be if you don't shop around but if you work with an independent insurance agent you can save as much as 50% on your monthly premiums for the same type of life insurance this is very powerful so don't make this mistake before applying for a specific policy talk to an independent agent in your area and compare your options.
2. ANOTHER MISCONCEPTION IS THAT YOU DON'T NEED LIFE INSURANCE.
If you are young and healthy this is wrong in fact you do and you can get a very good deal on a thirty-year term policy and lock the rate when you are still young and healthy if you wait until you're older you will certainly pay much more each month you will be older right and maybe your health won't be ideal and that also affects the rate procrastination of getting life insurance also means that by the time you need it it could be too late you will never be younger than you are today.
3. NOW THE MISCONCEPTION IS THAT IF YOU ARE SINGLE THEN YOU DON'T NEED LIFE INSURANCE.
Well single people may have children may be planning to get married or have parents that are aging or you may own a business or have dead or need to pay mortgages student loans car loans and so on life insurance benefits can cover that debt.
4. HERE'S ANOTHER MISCONCEPTION LIFE INSURANCE IS COMPLICATED.
Life insurance isn’t as complicated as you think. The first thing to understand is that you only have two types of life insurance you consider -
Term - This life insurance is that only covers you for a specific number of years. Term life insurance usually has a term of 10, 15, 20, or 30 years. This is also the cheapest type of life insurance policy you can buy.
Permanent - This is life insurance that covers you for the rest of your life. Permanent life insurance almost always includes a cash value which builds over time. You can borrow against this cash value when you’re older, too.
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