Life insurance may be complicated and confusing, and it is surrounded by many myths and misconceptions. Some of these myths can be dangerous to believe. For this reason, it is important to know and understand them, which will help you make the right choice and pick a policy you really need. Here is a list of the few most common life insurance myths:
Myth 1: People With No Kids Do Not Need Life Insurance
It is not just your children you should think when you consider getting life insurance. The purpose of life insurance is to cover your funeral and medical expenses, as well as your personal debts after you are gone. If you have no life insurance, your family members may have to deal with a lot of debt you leave. For this reason, even if you do not have children, it is still important to carry life insurance to make sure that your family members will not have any financial worries.
Myth 2: Life Insurance Is Too Costly
One of the most common misconceptions about life insurance is that it is expensive. However, in fact, it is not expensive at all. A term life insurance policy, for example, is one of the cheapest insurance policies – it starts from $10 a month.
Myth 3: You Cannot Get Life Insurance If You Are in Poor Health
The good news is that there are many insurance companies that will sell insurance policies to people in poor health. There are even special carriers that specialize in high-risk groups. The coverage for these groups of people may be a bit more expensive than for policyholders in perfect health, but there are definitely insurance companies that will work with them.
Let Stanley Insurance Group in Hilliard, OH Help You Get a Policy You Need
If you live in Hilliard, OH, or any other surrounding town, Stanley Insurance Group is ready to assist you. Our mission is to understand the personal needs of our clients and help them get a policy based on their personal preferences and budget. If you have any questions about this type of insurance, feel free to contact our agents.