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Carrying a life insurance policy can be one of wisest decisions you can make for your family and loved ones. Currently, less than half of the people in the United States own individual life insurance policies. However, life insurance can be an important factor when unforeseen circumstances occur.
Let’s look at some of the fears and then separate fact from fiction:
Fear #1: “Life insurance isn’t worth the expense”
Life insurance is like a safety net on behalf of your loved ones A recent study by LIMRA/Life Happens found that consumers overestimated the cost of life insurance by nearly three-fold. You can gain peace of mind by knowing that you are helping to protect the financial future of those you love, should the unexpected happen to you. Think of life insurance in the way that you think of your car’s airbags. You don’t use them on a daily basis, but you know they’ll help protect you and your family in case of an accident.
Fear #2: “Life insurance is confusing. I don’t know which policy to buy”
You want to make the best decision for your family, yet the options for life insurance coverage are numerous. If you find it challenging to decide on a life insurance provider and policy, ask for assistance. Many life insurance companies have experts on hand to help you choose the best kind of policy that fits your needs. These knowledgeable advisors can walk you through each policy’s benefits and costs.
Fear #3: “I’m young and healthy, so life insurance doesn’t make sense for me”
Typically, the younger you are when you buy a life insurance policy, the less your monthly life insurance premium will cost. Waiting until you’re older also could make getting coverage more difficult or perhaps even impossible. Consider taking advantage of your age by getting coverage sooner, so that you can have a lower monthly cost and gain greater security.
Fear #4: “No one counts on me financially, so I don’t need life insurance”
A recent poll from the Life Insurance Conference found that one third of the people responding would feel the financial loss of a primary wage earner within less than a month, and that 53 percent would feel the financial impact within one year. Even if you do not have a family that depends on your income, and even if the only person currently benefitting from your income is you, who will pay for your final expenses such as funeral costs? If you have a life insurance policy, you can ensure that those expenses will not be left for your loved ones to absorb.
Gerber Life Insurance Company would like to help you achieve peace of mind by knowing that your family is protected. Start here or call one of our licensed representatives who can help you decide what option would work best for you.
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