The Myths of Life Insurance

There are so many myths surrounding life insurance. Because of these myths being believed as truth many people decide to ignore their need for life insurance policies or don’t buy enough life insurance. The myths around life insurance often come from people not understanding the options they have or hearsay. The decision to buy life insurance is something that everyone should take seriously and speak with a professional about instead of listening to the horror stories of someone else.

The Myths and the Truth

While there are myths about everything, the myths about life insurance should never be taken seriously. These myths often come from a trusted person and are taken as the truth. Many of the people that repeat these myths don’t intend to cause any harm, the damage that can come from repeating them can be devastating. Instead of listening to rumors and myths, people that are interested in life insurance should research and discover the truth.

Myth: I don’t need it because I work from home or I’m a stay at home parent.

This is one of the oldest and widely spread myths circulating. If a person has dependents or assets they want to protect, they need life insurance.

People that work from home still have an income that need to be replaced in the event of death. Having a life insurance policy is one way to replace that income or part of that income for a period of time. Stay at home parents may not have an income to replace but their contributions to the family will take money to replace (daycare expenses, missed time off for appointments, etc…).

The expenses of death go far beyond funeral and burial expenses.

Myth: I’m too young for it.

Death doesn’t come at a specific age. It can happen to anyone. For those that live risky lifestyles and don’t have the money available to pay for their funeral, burial and other estate expenses, life insurance should be considered.

Young people have dependents now and they should be considered when deciding if life insurance is necessary. Those that are left behind often live a different life than they are accustomed to when their caregiver is no longer with them.

Myth: My kids are grown, the mortgage is paid and my spouse works.

There are some adults that don’t think they need a life insurance policy because they no longer have the obvious responsibilities. This is something that is untrue in many cases. While it’s nice not to have a mortgage and the children are on their own, a death still leaves an impact with the remaining spouse. Everyone’s income plays a major part of their lifestyle. When one income suddenly disappears, the remaining spouse’s lifestyle suffers almost immediately.

There are many more myths that are told and given as reasons not to buy life insurance or drop their coverage. These myths should be overlooked and thought about because they can leave an innocent set of people suffering financially.

Everyone that has worked hard in life and wants to protect the ones they leave behind should ignore the myths they are told and consider the reality of their decisions.

Sep. 7 14'
A round of applause for your blog article.Much thanks again. Much obliged.
May. 13 15'

Having myself been the viitcm of the publishing industry implosion back in 2008 when my publisher just dropped out of the contract six months before my book was released, I think Anthea's points are well-made. Quite frankly, I have no use for the Machine. They are mega-corporations now, conglomerates, that make their money off branding authors instead of publishing books; they couldn't care less about authors if there's no money in it for them, and their business model is so antiquated and ineffective they had to start cutting editors (who had mostly become glorified schedulers) to keep the heads of the Hydra above water.Having self-published my three books after letting traditional publishers kick me around for years (I've been a published writer since 1998 with nearly 40 novels written, to date), I will never, never, ever look toward another traditional publisher for any work with my name on the cover. Now I have complete control, I collect the vast majority of the profits from my efforts, and most important I'm HAPPY!
Jul. 7 15'


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