What’s Your Excuse? Why People Avoid Life Insurance and Why They Shouldn’t
Life insurance has proven to be a wise purchase for many, but there are still holdouts who decide it’s not for them. If you’re one of those who feel they just don’t need it, think again. Here are some of the reasons people don’t purchase life insurance policies, and the reasons they should reconsider their decision.
I Don’t Need Life Insurance Because…
1. I don’t have children.
Although having children is an important reason a person should get life insurance, it’s not the only motivation. Anybody who would suffer financially should you die, whether it’s your sister or brother, spouse or partner or a surviving parent, for instance, would benefit from your life insurance coverage.
2. I get life insurance through my job.
Keep in mind that your employer-provided policy will probably not go with you when you leave. Also, that policy might not be enough on its own. You want a policy that pays out enough to cover your final expenses as well as your beneficiaries financial needs.
3. I’m healthy.
Life holds surprises, and a person’s death is one of them. Even the healthiest can face unexpected circumstances that take their lives away. When you’re healthy is also a good time to purchase a policy because poor health can lead to more expensive premiums.
4. I’m not old enough to worry about it.
Actually, purchasing a good life insurance policy while you’re young is wise, whether you have anyone else depending on your income or not. As life goes by your circumstances will change, but a policy purchased when you’re young will carry less expensive premiums than if you wait until you’re older.
5. It’s an unnecessary expense.
Financial obligations can add up, making your month to month budget tight. The good news is, life insurance isn’t as expensive as you might think. Besides, if things are tough now, imagine what would happen to your loved ones should your income not be available.
Think life insurance isn’t a good choice for you? Consider the big picture before making your decision. Explore your possibilities and make policy and cost comparisons and you might find a life insurance policy is a good, affordable way to go.