Prestizia Insurance Blog
Some people have bad opinions about life insurance, and that promotes the creation of myths surrounding the topic. These false rumors causes people to be hesitant when purchasing a life insurance, even when it’s actually really important. Here we’ll discuss 7 assumptions you shouldn’t follow when buying a policy.
Young people don’t need to think about life insurance
The truth is that the younger you are the cheaper your premiums will be, so it’s best to get a policy as soon as you can.
It is expensive
According to the Life Insurance organization LIMRA, most people overestimate the cost of life insurance. The actual truth is that life insurance cost is based on several factors, and the earlier you buy it the more affordable it would be.
People with bad health conditions can’t get life insurance
A lot of insurers would gladly sell you a policy regardless of your condition. Of course, if you’re in a bad condition, you have to pay more because your insurers would have more risk in giving you the policy.
The life insurance from your workplace is enough
The typical life insurance you get from your employer would have a payoff up to 6 times of your annual salary. However, any income outside your base salary wouldn’t be included in the calculation, and your family might not get enough money to provide from themselves. To make it worse, there’s a chance your policy would expire if you quit your job.
You only need life insurance if you’re earning money
Before believing this myth, think about what would happen if your spouse, who takes care of things at home, passes away. You’d have to hire someone to take care of your house and children, and that can take a lot of money. To avoid this, it’s better if both parents are insured with a policy.
Always buy policies online
The price of policies through an agent or online is actually the same. However, if you buy through an agent, you’ll be able to consult about your needs and get a more suitable policy.
Do not get permanent life insurance
People think it’s better to get term life insurance because it’s cheaper, and you can invest the rest of your fund to grow it. That isn’t true for everyone because permanent life insurance also has its benefits regarding taxations.
Knowing what’s true and what’s not will give you a clearer view about life insurance, enabling you to make a more objective decision. Feel free to contact us if you’re looking for a policy. At Prestizia Insurance Group, we aim to provide comprehensive insurance policies that makes your life easier. You can get more information about our products and services by calling our agency at (855) 436-6353. Get your free quote today by CLICKING HERE.