Common Misconceptions About Miami Life Insurance
Posted on: February 26, 2015 by Javier iSure
Life Insurance is one of those topics that gets little attention, however as far as financial matters go, is arguably the most important topic there is for families. Without the appropriate Miami Life Insurance Coverage, your dependents may be left vulnerable, with no money to pay for funeral costs, childcare, education, etc. Forbes.com recently published an article overviewing life insurance and some common misconceptions that can be more harmful than helpful. Below is a brief overview.
Misconception #1- “My employer provides life insurance, that’s all the coverage I need”
This may be true, however if and when you leave your job, you will likely lose that coverage. You should be able to convert this policy to an individual one, however it can be much more expensive than purchasing a policy on your own, right away, especially if your health un-expectantly deteriorates or deteriorates due to age.
Misconception #2- “I am the main breadwinner in the family, only I need life insurance”
What if something happened to your stay-at-home spouse? Do you have the resources to cover childcare, home care, etc? Likely you do not, and this will costs a lot of extra money that you may not have.
Misconception #3- “Life Insurance is too expensive, it’s not worth what I would pay”
You are likely overestimating the cost. In fact, a recent study conducted by Life Happens and LIMRA revealed that 80% of Americans think life insurance will cost them more than it actually does, and the reality is it costs less to be covered than it would for your family members to cover all the necessary costs after you are gone.
Misconception #4- “I’ll get a better deal buying life insurance online”
Naturally, the web is used for a high amount of research. You wouldn’t be reading this if you weren’t interested in life insurance, and looking for information online regarding it. However, life insurance is one of those purchases that must be handled on a personal level; you can’t get personal service online that will help you figure out how much you need, which company is likely to give you the best deal based on your health situation, and what the terms on the application mean.
At iSure Insurance Brokers, we understand what an important topic life and disability insurance is. We also understand that these types of decisions are not light ones, and even more complex for high net worth individuals in Greater Miami. To learn more about our life insurance products and other product for private clients, please give us a call today at (855) 381-6123.