Myths about Life Insurance

 

1. Life insurance is only for final expenses. 

Clients need more than just “burial insurance.”

Life Insurance has many benefits such as income replacement, debt protection, paying for kids’ college educations.

Life insurance can help build wealth.

2. Life insurance will leave my kids on Easy Street.

Fear their kids will become unmotivated if they receive an unexpected windfall.

Proper estate planning and a living trust can help ensure your kids grow up with that same hard work, determination, and grit that you did

3. I have enough life insurance through my job. 

Coverage from your employer is usually not enough

Your employer can also trim or drop coverage at any time. Finally, you also lose that benefit if you change jobs, lose your job, or retire.

All these reasons underscore why most people need to supplement any coverage they get through their job.

4. Life insurance only benefits me if I die. 

Most clients fail to consider the many ways that life insurance can benefit them while they’re living.

Chronic illness riders and how cash value accumulation in permanent life insurance can support their other financial goals.

5. I don’t need something like $1 million of coverage.

Most clients often underestimate how much coverage their family really needs. That’s because expenses like a mortgage, car payments, future college tuition bills, and more can add up fast.

Fortunately, life insurance usually doesn’t cost anywhere near what most people think.

People overestimate the cost of term life all the time and are pleasantly surprised at how affordable it really is.

For all of your Life insurance questions, call or contact me at coryellerbee@gmail.com. (707) 419-5787 or you can fill out a contact me form at bigcory.com