2. Life Insurance is....
Too Expensive
Several studies have been done showing that over half of
Americans overestimate the cost of life insurance. Most people
surveyed had the tendency to believe life insurance would cost
almost ten times more than it actually does. So, if you think life
insurance is too expensive, look into your options. Chances are,
it's less expensive than you think.
3. Life Insurance is....
Only for People with
Dependents
While people with dependents need life insurance to look after
said dependents, those who do not have dependents should
invest in life insurance as well. If something were to happen,
life insurance could help pay for funeral arrangements, and
other things left behind.
4. Life Insurance is....
Not for Stay At Home
Parents
This is a particularly dangerous myth because of everything
stay-at-home parents provide. If they were no longer present,
extra expenses would surface, such as housekeeping, childcare,
and cooking. The stay-at-home parent most certainly needs life
insurance as a way to offset these costs.
5. Life Insurance is....
Less Expensive Online
Life insurance is generally the same price if bought online, and
buying insurance online takes out the helpful advice you could
be getting from an agent. While the internet is more
convenient, an agent can take into account all factors in your
life and truly ensure you buy the right policy.
6. Life Insurance is....
Unnecessary if You Have
Savings
A savings account and a life insurance policy are not the same
thing. Even if you do have money in savings, purchasing a life
insurance policy will ensure that your family has all the money
it needs for arrangements after your death, as well as for
continuing forward in life.
7. Life Insurance is....
Only Protection for
Death
A permanent life insurance policy is not only for when you die.
It also has growth potential that can provide a cash cushion for
you throughout your lifetime. It can also be used as an untaxed
loan if you decide to withdraw money from it.