United Life Group

Life Insurance Myths

There are several life insurance myths out out there. Many people contact us with important life insurance questions. In this article we hope to dispel some myths surrounding cheap life insurance.

For many people, the added monthly expense just seems to much when most families are under a tight budget.  However, many people are surprised to learn that purchasing cheap life insurance policy is not only simple but it’s also a worthwhile investment. Many people may not realize that there are also great no exam life insurance policies available. This is helpful for those who don’t want the inconvenience of visiting a doctor to get approval and are looking for a no exam life insurance plan.

The most common reason people avoid investing in life insurance is that they’re not educated on what types of policies are available or even who to talk to.  Unfortunately, some people avoid purchasing a policy because of a rumor or myth they’ve heard.  We thought it would be helpful to talk about and debunk a few of those life insurance myths in this article.

Life Insurance Myth #1: I don’t need life insurance because I’m young and healthy.

This is one of the biggest life insurance myths out there.  Let’s be honest, when we’re young we think we’re going to live forever.  But unfortunately we’ve all heard stories about someone dying at a young age.  The reality is that when we are young and healthy we don’t want to think about something happening to us.  However, part of planning for the future is being able to identify every possible scenario and how best to prepare for each one.

Life Insurance Myth #2: I don’t need life insurance because I have a term policy through work.

This may or not be true, it really depends on each individual.  If you’re single and you don’t have any dependents, then the coverage you have at work may be enough.  However, if you’re married and have children than an affordable life insurance plan can go a long way to securing peace of mind.  It would be wise to sit down and talk with your spouse about how much coverage your family needs.

Life Insurance Myth #3: I’m better off investing my money in something else than life insurance.

This is where a lot of people make a mistake.  They see life insurance as competition to investing or expanding their portfolio.  Depending on whether your assets are liquid or not makes a big difference in ensuring a secure financial future for your family.  It’s always important to invest when you are young and healthy but senior life insurance can be equally as important.

These are just a few life insurance myths out there.  We hope we’ve helped you see how a cheap life insurance policy can be a great investment. As you can see there is a lot to consider when purchasing a life insurance policy.  Feel free to contact one of our agents or you can always shop and compare quotes on our website.