3 Things Life Insurance is Not

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3 Things Life Insurance is Not

What you should know about life insurance.


Are you confused about life insurance? If so, you’re not alone. When people first start thinking about life insurance coverage, it’s easy to fall into believing the misconceptions and forgetting how important coverage is. Instead of telling you what life insurance is, we thought we’d tell you what it’s not. Why? Because sometimes understanding what life insurance is not helps you to understand what it can and can’t cover.


Life insurance through work is generally not enough.

Workplace policies are a great benefit to have, but they are usually limited to one to two times your salary. For most families, this is not enough to adequately cover the remaining debt, funeral costs, and daily expenses that maintain their same quality of life. Plus, the coverage typically ends when you leave the company. It’s best to take out your own personal insurance coverage to be properly protected.


Life insurance is not a luxury item.

Many people haven’t even considered life insurance because they’re convinced it’s a luxury. However, most people overestimate the cost of a policy by five times. Life insurance doesn’t have to be expensive, so be sure you talk to an agent who can help you secure an affordable policy.


Life insurance is not just about covering funeral costs.

Although covering funeral expenses is important and a major reason to purchase coverage, life insurance does so much more. It can replace lost income, pay off a mortgage, or help your child pay for college in the future. The proceeds of a life insurance policy are generally tax-free and can be used for anything your loved ones need.


If you need help securing a life insurance policy is best for you and your family’s needs, get in touch with industry professionals. Contact Kevin or Marci to get started on securing the right life insurance today!

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