Life insurance is offered everywhere. There’s a constant flow of life insurance wherever you look, from watching TV to surfing the Internet. With all of the information overload, it’s inevitable that there would be myths popping up about life insurance, too. Here are a few common myths that are just that – mythical.
Myth – Nobody Actually Needs It
Life insurance can be useful for everyone. Debts can build up quickly due to the high costs of funeral preparations or medical bills. These debts can be transferred to your beneficiaries along with any personal debts you may leave behind. Any form of such protection can be helpful, especially to help make things easier for your friends and family later on. Self-insurance is one avenue, as is a stockpile of investments. Two types of policy also present viable options: term and whole life. Most of the time, policies for covering both you and your family have a bad reputation. This bad reputation comes from people being persuaded to buy unnecessary and costly forms of insurance.
Myth – My Employer’s Life Insurance Offer is Enough
Your employer may offer you a policy. It could be one of the many benefits extended as part of an employee package. But many policies only provide partial coverage or reimbursement. Another caveat to keep in mind is that if you leave that job, the policy and its benefits might not follow you to your next position. A smart idea is to buy into the policy early on in your employment. This early buy-in will serve to keep your rates low and you can still benefit from the policy’s existing coverage even if you are unexpectedly out of a job.
Myth – I’m Not Healthy Enough for It
Another myth is the belief that you might not be healthy enough to qualify. Many different plans can help cover you no matter your health status. Improving your health can also help lower policy costs when you choose to apply for the policy. There are policies designed to help those with many health conditions, but if this is the case for you, be honest about it with your provider. Being honest can help costs from going up as a penalty or prevent the possibility of policy termination.
Myth – Buying Online Can Save Money
While the Internet is a great source of information, you can’t always be sure it’s the best information. For instance, you might be drawn by the low, low prices offered by many online sites. But those low prices often hide unexpected costs that they won’t tell you about. Maybe the policy doesn’t actually cover what it claims to, or the customer service you encounter is a nightmare. Like many other products and services in life, it’s probably best to shop around for the best deal. After all, you want to be sure you get the best coverage you can for your budget.
Get in Touch with Wachter Insurance
Whether you need homeowners’ insurance or automobile insurance, our team at Wachter Insurance Agency, Inc. is here to help. We offer all of our clients competitive rates, professional customer service, and a huge range of policies to choose from for your needs. We have been serving Maryland, West Virginia, Virginia, Pennsylvania, and the District of Columbia since 1969 and we would love to help keep your home and family safe every day of the year. For more information, give us a call at (301) 371-6335 or visit us online. For more blogs like these, follow us on Facebook, Google+, Twitter, and Pinterest.