Life insurance is an important financial decision that is often misunderstood.
As a result, most people avoid purchasing policies.
However, the right insurance is recommended because it helps to protect loved ones when you are no more.
It will ensure your dependents are provided for when your income is no longer available.
Some of the common misconceptions about insurance include: · Insurance is beyond the rich of the sick Many people avoid shopping for a policy because they have the preconceived idea that you need a medical exam to qualify for a policy.
Furthermore, those who are unwilling to undergo a medical check for social and religious reasons may avoid looking for insurance.
However, many leading insurance companies available offer affordable no-medical exam term life insurance.
With this type of insurance, a medical exam is not demanded.
However, the applicant may be called upon to respond to basic health questions.
· Insurance is necessary as long as you have dependents Many people fail to buy policies because they do not have dependents.
However, insurance is recommended for everybody including married people with or without kids, singles, senior citizens and even babies.
A cover is recommended because it is safe investment opportunity.
· All insurance covers are the same As you shop around for covers, you will discover many companies as well as different variables in policies.
Therefore, it is advisable to consult with a professional insurance advisor so that you can learn more about the different types of covers.
This will help you make an informed decision, making sure you choose a policy and cover that caters for your needs.
· Insurance is a death insurance Although insurance can play an important role in providing your loved ones with financial support when you are gone, it is an important consideration for every individual's living financial plan.
The right policy offers many options including paying your children's college education, contributing towards the down payment of your home, funding a business and meeting your retirement needs.
Furthermore, you get the opportunity to borrow against your insurance policy.
· Insurance is expensive Most people consider policies expensive.
However, this is not true.
There are many companies available in the market and thus the competition is high.
When you shop around, you will be able to find a product that is right for you, at competitive rates.
Nevertheless, the right time to purchase insurance is now because the older you get the more costly it gets.
As a result, most people avoid purchasing policies.
However, the right insurance is recommended because it helps to protect loved ones when you are no more.
It will ensure your dependents are provided for when your income is no longer available.
Some of the common misconceptions about insurance include: · Insurance is beyond the rich of the sick Many people avoid shopping for a policy because they have the preconceived idea that you need a medical exam to qualify for a policy.
Furthermore, those who are unwilling to undergo a medical check for social and religious reasons may avoid looking for insurance.
However, many leading insurance companies available offer affordable no-medical exam term life insurance.
With this type of insurance, a medical exam is not demanded.
However, the applicant may be called upon to respond to basic health questions.
· Insurance is necessary as long as you have dependents Many people fail to buy policies because they do not have dependents.
However, insurance is recommended for everybody including married people with or without kids, singles, senior citizens and even babies.
A cover is recommended because it is safe investment opportunity.
· All insurance covers are the same As you shop around for covers, you will discover many companies as well as different variables in policies.
Therefore, it is advisable to consult with a professional insurance advisor so that you can learn more about the different types of covers.
This will help you make an informed decision, making sure you choose a policy and cover that caters for your needs.
· Insurance is a death insurance Although insurance can play an important role in providing your loved ones with financial support when you are gone, it is an important consideration for every individual's living financial plan.
The right policy offers many options including paying your children's college education, contributing towards the down payment of your home, funding a business and meeting your retirement needs.
Furthermore, you get the opportunity to borrow against your insurance policy.
· Insurance is expensive Most people consider policies expensive.
However, this is not true.
There are many companies available in the market and thus the competition is high.
When you shop around, you will be able to find a product that is right for you, at competitive rates.
Nevertheless, the right time to purchase insurance is now because the older you get the more costly it gets.
