Most Common Myths about life insurance

“Life insurance is not a priority for me at the moment because I am young and healthy.” “I’m not the main breadwinner in my family, so I don’t need life insurance.” “ I already have life insurance through my work, that is enough”.

If any of these ideas have crossed your mind, let me tell you that the good news is that you are not alone, as these are some of the most common arguments we hear from our clients when it comes to life insurance . However, the bad news is that they are not entirely correct. Assuming that you don’t need life insurance because you’re in good health, or that an existing plan is more than enough, are just that: assumptions, myths.

So we are going to talk about some of the most common myths about life insurance to analyze them and expose the reality. With this we hope to clarify some doubts and emphasize the importance of these policies.

Myth #1: I am too young to have life insurance.

Fact: You may be surprised to learn that the best time to buy life insurance is when you are young! The younger you are, the easier it will be to acquire ( cheaper ) and maintain ( less expenses ) an insurance policy. With fewer expenses, fewer assets to maintain, and lower premiums to pay, your money will go further, so the longer you wait, the more expensive it will be to buy.

Myth #2: I don’t qualify due to health issues.

Reality: This is not entirely true because even though there are certain high-risk health conditions that may disqualify you from obtaining life insurance as such, you should know that there are options available for all types of cases. Working with an independent insurance agency like us has many advantages and this is one of them, since we can search for all the options available in the market for your particular case and offer you the best solutions at the best prices.

Myth #3: It’s too expensive.

Reality: Study after study shows that most people overestimate the amount they think they will pay for a life insurance policy and that is precisely why they do not decide to buy one until it is too late (if it is that they do). Don’t assume it’s too expensive and you can’t afford it, you may be surprised to learn that for up to $30 a month you can get life insurance. Start today to protect your family’s future, take the first step and talk to any of our insurance agents .

Myth #4: I’m not the main financial provider in the family, so I don’t need it.

Reality:  Your spouse or partner may not be the main financial support of the family, but in the same way, this person contributes to the well-being and care of the home. This policy will also serve to cover final and funeral expenses of your spouse.

Myth #5: I have life insurance through the company I work for, so I’m fine.

Reality: It may not be enough. Insurance policies issued through employers often do not include extra income such as commissions, bonuses or secondary income that you can receive from another source, which means that it will not be enough to replace all of the income with which family counts. Also know that you may be able to get a better, and in many cases cheaper, plan if you do it yourself through an independent insurance agent.

The month of September celebrates the importance of life insurance, so celebrate with us and contact any of our offices and speak with our agents to answer any questions you may have.

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