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Life Insurance Basics

5 Common excuses that shouldn't keep you from getting the life insurance you need


This article covers five common excuses people use that prevent them from getting life insurance and refutes those excuses by providing helpful explanations.

Excuse #1: The life insurance I have through my employer is good enough

Many employers provide a type of supplementary life insurance coverage that is typically only one or two times your annual salary. This amount of coverage isn't always enough to meet the needs of most families. Moreover, you typically can't take your policy with you when you leave your job.

Excuse #2: It's just too expensive

The different types of life insurance policies available today make it possible to find something to fit just about any budget. Moreover, shopping for life insurance early before potential health problems arise, is one of the best possible times to make a purchase. Not only will your insurance premiums be more affordable, you'll find it's much easier to get a policy when you're younger and healthier.

Excuse #3: I don't know enough to make a decision

Life insurance can be complex. However, don't let what you don't know keep you from getting a policy. In fact, a qualified life insurance agent or company representative can help you take those first steps toward understanding the basics. They'll even help you calculate how much life insurance you need.

Excuse #4: Money spent on a life insurance policy can be invested elsewhere

First off, life insurance shouldn't be considered a vehicle for investment purposes - unless you consider it an investment in protecting those you love. The purpose of life insurance is meant to provide those who depend on you the most from financial hardship in the event you should you die unexpectedly.

Excuse #5: I don't have the time

While you can't manufacture more hours in the day or add more days to the week, there are some things in life that need to be brought to the top of the “to-do” list. Make life insurance one of them because just like taxes, death is certain - and there's not time like the present.

 

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All Learning Center articles are general summaries that can be used when considering your financial future at various life stages. The information presented is for educational purposes and is meant to supplement other information specific to your situation. It is not intended as investment advice and does not necessarily represent the opinion of Protective Life or its subsidiaries.

Learning Center articles may describe services and financial products not offered by Protective Life or its subsidiaries. Descriptions of financial products contained in Learning Center articles are not intended to represent those offered by Protective Life or its subsidiaries.

Neither Protective Life nor its representatives offer legal or tax advice. We encourage you to consult with your financial adviser and legal or tax adviser regarding your individual situations before making investment, social security, retirement planning, and tax-related decisions. For information about Protective Life and its products and services, visit www.protective.com.

Companies and organizations linked from Learning Center articles have no affiliation with Protective Life or its subsidiaries.