Discussing life insurance isn’t typically a conversation people are excited to have. No one wants to think about the inevitable happening to themselves, and it’s certainly not something anyone wants to bring up to their loved one. As a result, many people put it off, pushing it further and further into the future. Life insurance, however, is a must whether we like it or not, and it’s one of those things you don’t realize the value of until you need it. If you wait until it’s needed, you’ve put you and your family in a difficult situation, one that could be easily avoided. Getting life insurance isn’t the big ordeal many people believe it to be. It’s actually a very common, simple-to-start part of an individual’s insurance portfolio, so there’s every reason to get covered and virtually no reason not to.
Check out these common myths that hold people back from getting an ever-important life insurance coverage plan below.
Myth #1: It’s too expensive.
It’s understandable to think that life insurance must take a considerable amount of investment. After all, it’s your life. What could be more worth insuring? You may be surprised to find out that life insurance is actually incredibly affordable, even more affordable than your vehicle. Rates are often overestimated, but in reality, the average plan tends to cost per year roughly the same amount as a few grocery trips, making it around $15-$20 a month.
Myth #2: It’s complicated.
Getting life insurance is actually a pretty straightforward process. Working with your agent, you’ll simply decide your amount of coverage and the timespan for your protection. There’s essentially only two main types of life insurance: term and permanent. Your age will help you determine which is right for you and what to expect when the plan begins.
Myth #3: Young people don’t need it.
Life insurance isn’t just for older adults. In fact, beginning your plan sooner rather than later is a smart idea. When you’re young and healthy, the life insurance may be the last thing on your mind, but that’s the time you’ll get the best coverage situation. Plus, you unfortunately never know when something can happen, and you likely won’t be able to get the same kind of protection as you would when you didn’t need it, so it’s a good idea to plan ahead. Your future self may thank you.
Myth #4: It’s only important if you’re married.
Life insurance is often a policy older couples encourage one another to invest in, but single adults need to be just as mindful of it. This is particularly true if you have children or aging parents who depend on you financially. If something happened to you, married or not, whatever loved ones you have will be responsible for paying for the arrangements. Life insurance helps make a difficult situation at least a little more manageable, financially if nothing else.
Myth #5: If you’re older, it will be hard to get.
While it’s true your coverage will likely be at a higher rate the older you are, that doesn’t mean you won’t be able to get it, unless you have a terminal illness, which can complicate things. Even if you’re 60 or older, you can generally purchase a policy that’s right for you, which your insurance agent can help you determine.
So, what’s your excuse for not being prepared now? With extremely affordable rates and a range of benefits, there’s no reason that should be holding you back enough to put off valuable life insurance much longer. When you’re ready to have the conversation, come see us at The Seltzer Group at one of our locations in Shuylkill, Orwigsburg, or Pottsville. You’ll never regret getting life insurance, and you’ll always be happy you did.