Three myths about life insurance. Some myths have been created around life insurance that make it incomprehensible to many people who deprive themselves of the multiple benefits of this important financial instrument.
- Life insurance is only useful when you die
It is not entirely true. Although life insurance is generally used to benefit the insured’s surviving loved ones, there are many types of life insurance that also benefit the insured himself. For example, when a senior with life insurance needs money, she can take it out of her own insurance benefit. The same happens if the insured contracts a critical, chronic or terminal illness, in which case he can also collect part of the death benefit from him.
- I do not need life insurance because I am young, healthy, single and do not have children
Buying insurance as a young and healthy person ensures that the premiums are very cheap. Also, if you die, because anyone has an accident, your parents do not have to take care of paying your funeral, your student debts, your mortgage, or your car loan. If you become disabled, the insurance takes care of paying you for life.
- Insurance is expensive, it is for the rich
There are many variants of life insurance. It is usually not expensive to have. Among other factors, the price of the premium depends on the age of the insured, their state of health, the death benefit they want or the type of insurance (permanent or term, the latter being even cheaper).
If you have doubts about life insurance, call the specialists at Univista Insurane and avoid believing in the myths that circulate out there. Three myths about life insurance.