Common Myths about Life Insurance

There are a lot of confusion when it comes to life insurance. Most people are unsure when and what kind of life insurance to get for the most part. Some procrastinate thinking they have all the time in the world and the reality of death does not sink in their minds. Lack of knowledge about it leads to wrong and sometimes dangerous information that many believes. Here are some common myths about life insurance.

1. It is okay to depend on your life insurance through your job. There's no need to get a personal life insurance policy.

Life insurance through work is a great benefit but once you leave the company, your coverage ends too. It is wiser to get a personal life insurance especially while you're still young and in good health. There are several good options out there that are affordable and will cover your needs.

2. Having health issues disqualifies me from getting a life insurance.

There are companies that still covers people with health problems. Just be informed that they tend to be more expensive and coverage may be lower, but it is possible.

3. It is too expensive.

A research conducted by LIMRA shows that 25% of Americans said they need more life insurance, but only 10% planned to purchase it. A big reason for this is that most people think that getting a life insurance can be too expensive. If you start young, the chances of getting it in a more affordable cost are higher but that being said, older people can get decent prices that won't break the bank with good coverage. The best way to achieve this is to shop different companies and talk to an agent.

4. You don't need life insurance if you are single, or married with no children.

Having a life insurance can help cover your debts and also provide for your spouse or other loved ones even if you don't have children. Your beneficiaries whether it's your niece, nephew or sibling can help provide financially to them.

5. If an unlikely event that you passed away in a different country, life insurance does not cover you.

Most policies will pay your beneficiaries if unfortunately you passed away in a foreign country. Just be aware that some insurance policies exclude certain countries that are currently on the U.S Department of State Current Travel Warnings. Call your agent to find out prior leaving the country.

Be more informed about life insurance. Don't delay. Find an agent and ask about the different life insurance policies that will be beneficial to your needs.

How to Pick an Insurance Agent

How important is it to pick the right insurance agent? Very important! If your insurance need is simple, say you just need basic car insurance, calling a toll free number or going online is enough. But if you have different insurance needs, then generally, it is better to consider finding an insurance agent to advise and help you find the right coverage.

Looking for an insurance agent should not be a painful experience. Here are some ways or tips into finding a good insurance agent.

·         Referrals or Personal Recommendations

The best way is to ask people you know: family members, friends and colleagues. Asking is always better than relying on advertisement that you read online or through phone directories. Most people can direct you to the right person if they had a positive experience in dealing with the insurance agent. If it’s from a trusted source, there’s some guarantee that the agent gives quality service to his/her clients.

·         Reviews/ Testimonials

Review and social media sites like Yelp, Facebook, LinkedIn and many more can help you point to the right direction when choosing an insurance agent. Other people’s testimonials can give you a good idea what kind of services are being offered and most importantly, if the person has a good reputation.

·         Personalized Advice

When you talk to an insurance agent representative, he/she should be very familiar with their services and can help you find the best coverage for your specific needs and can also help you minimize your cost. A good agent will advise you on how to adjust your policies to help you save money and get more benefits on your coverage.

·         Trust Your Instinct

Don’t get scammed. Do a thorough research. Some people poses as insurance agents who offer and sells policies but are not really certified. Always ask good questions and check if they are licensed to help you avoid being scammed.

These are just some helpful tips to help you find the right insurance agent. Always best practice is to do your research. Knowledge is power. The more you know and ask the right questions, the better chances you will find the agent and also insurance company that will suit your needs.