4 myths about life insurance

While many financial experts advocate for parents to have life insurance, very few people want to talk about death. But that’s not the only reason why people are still reluctant to buy life insurance in Buford, GA.

There are many misconceptions about the policy that leave buyers more confused than before. Life insurance is also complex to understand, and you may end up purchasing or making the wrong choices if you’re not adequately informed. Here are four common myths about life insurance.

1. It’s expensive

The main reason why many people don’t buy life insurance is that they believe it’s too expensive. Young people think they cannot afford it, given that they may have to pay for very many months. Life insurance is cheapest when young and expensive when old, and that’s why Town & Country Insurance recommends buying life insurance when you’re younger because your rates won’t change.

2. If you’re young and healthy, you don’t need insurance

Unless you plan not to have a family and have enough money for your burial, life insurance can be used for various financial reasons, not just a family. Your life insurance needs keep changing as you grow older. And the older you get, the more expensive it gets.

3. You can buy insurance whenever you want

It’s not always the case. If you have been diagnosed with a terminal illness and have a few weeks to live, it may be too late to buy life insurance. Similarly, some insurance companies don’t sell insurance to seniors above the age of 90.

4. If you’re single, you don’t need life insurance

People buy life insurance for different reasons. If you plan to be single the rest of your life, you have parents who could use your financial support, your business that you started and want it to grow years after you pass away, or even a charity organization you want to help.

To get more helpful information about life insurance in Buford, GA, feel free to contact Town & Country Insurance.