Life insurance is one of the most misunderstood topics that come with “adulting”. Life insurance is valuable at ANY stage of life. Beyond things like final arrangements and funeral costs, have you thought about other possibilities like the debt your family could be stuck with, for instance? Scary, right?
Let’s debunk three common myths about life insurance.
You’re too young to need life insurance.
Absolutely not! In fact, it’s extremely affordable to purchase life insurance for your children and it’s also a great gift to give to your child so that he or she can experience the benefits for life (plus, you have the opportunity to lock in lower premiums).
Life insurance is expensive.
Premiums will never be lower than they are now, and you would be surprised at how affordable it really is. Head to Ideal Insurance website and check out our informative section on life insurance that compares each type of coverage.
My employer-provided life insurance is enough.
While this is an awesome benefit, it’s usually not enough to cover the true expenses that arise in the event of someone’s death and once you have left your job your policy is canceled.
Another amazing thing? Life insurance isn’t one-size-fits-all. You can customize your plan based on your needs. Whole life insurance remains in effect your entire life as long as you pay the premiums and don’t cancel or surrender it, but it’s more expensive.
As much as it feels overwhelming and uncomfortable to think about things like death and hypothetical tragedy- it’s NECESSARY. I’ve seen too many families left without security because they didn’t have solid life insurance in place.
Challenge yourself with researching your options and making a plan.
Contact us now: https://www.insuranceideal.com.cy/contact
