Common Insurance Misconceptions

• Life insurance is too expensive: Many people overestimate the cost; affordable options exist, particularly when you secure coverage while young and healthy.
• Only the primary income earner needs it: Even non-earners play a crucial role in a household, and coverage helps manage expenses like childcare and household duties.
• It’s only for older individuals: Buying life insurance early can lock in lower premiums and offers better long-term financial security.
• Employer-provided coverage is sufficient: Workplace policies often offer limited protection and may not follow you if you change jobs.
• It only covers funeral expenses: Life insurance is designed to replace lost income, pay off debts, and fund future financial needs—not just cover final costs.
• Pre-existing conditions automatically disqualify you: Many insurers provide options tailored to individuals with health challenges.
• One policy covers you for a lifetime: As your life circumstances evolve, you may need additional or different types of coverage.
• Single individuals don’t need life insurance: Even without dependents, life insurance can cover debts and final expenses, offering peace of mind.
• The buying process is overly complicated: Modern applications are streamlined, with many insurers offering quick and accessible online processes.
• It’s merely an investment tool: While some policies accumulate cash value, their primary purpose is to protect your loved ones financially in the event of your passing.
  
  

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