Believing These Life Insurance Lies Can Hurt Your Family

Don’t buy into these myths.

While most parents understand the importance of life insurance, they put off getting this coverage for as long as possible.  Oftentimes, they procrastinate because they believe in popular life insurance misconceptions.  Unfortunately, waiting on life insurance can put your loved ones at serious financial risk.  To ensure that you aren’t leaving your family in danger, here’s the truth behind some of the most common life insurance myths.

Myth 1: Only Working Parents Need Life Insurance

Because life insurance is designed to make up for lost income, many parents assume that only the family’s main breadwinner needs a policy.  However, it’s important to consider the value that they stay-at-home parents provide.  Not only do they handle childcare, but they are usually responsible for managing and caring for the household.  If this parent were to pass away, then the remaining parent would have to pay for all these services.  To ensure that these costs do not come out of their partner’s pockets, stay-at-home parents should always secure a comprehensive life insurance policy.

Myth 2:  Life Insurance Can Wait

Many people associate life insurance will older, more established families.  However, waiting until to secure life insurance will end up costing you.  Life insurance providers offer the best rates to people who are young and healthy.  The older you get, the more likely you are to develop serious health concerns.  If you try to secure life insurance with preexisting conditions, then the cost of your coverage will be much higher.  So, if you want to lock in the cheapest life insurance rates possible, you should start shopping for a policy as soon as possible.

Myth 3: Life Insurance is’t Affordable

According to a recent study, most adults believe that life insurance is three times more expensive than it is in actuality.  This means that there’s a good chance that life insurance is cheaper than you ever imagined.  By securing a policy while you are young and healthy, you can lock in cheap rates and ensure that your family gets the protection that they need.

Don’t buy into these life insurance myths.  Want to secure the right life insurance coverage to keep your family safe?  Then contact the experts at Pierce Insurance Group.  Our dedicated team is eager to assist you with all your personal insurance needs today.