Three Main Misconceptions People Have About Life Insurance

By Lisa Torres | Owner, Lisa Torres Insurance Agency - State Farm

Why purchase life insurance? We break down why you may need it and talk about misconceptions.

Most people know life insurance helps provide financial security to loved ones after they pass away. But life insurance has many other benefits, including helping beneficiaries cover joint debt, replacing lost income, paying college tuition for children, protecting your business and helping you leave a legacy. A lot of people put off buying life insurance because of misconceptions they have about it. Here are three of the biggest:

Misconception 1: It's too expensive

Many consumers don't even think about trying to get life insurance because they assume the cost factor for life insurance is going to be too high and therefore too expensive for them to afford. There are several life insurance risk factors that affect life insurance premiums, including the type of policy, age, gender and personal health history. However, it's actually more affordable than many people think. In general, over half the population thinks term life insurance is over three times more expensive than it actually is.

Misconception 2: It's too complicated

Many people shy away from trying to get life insurance because they assume the quoting and purchasing process is going to be too difficult or complex. They assume that they have to gather a bunch of medical records, go into the office, meet with an agent, take a medical exam, etc.

Misconception 3: It's not for me

Many people have a limited knowledge of life insurance, which often leads to a lack of understanding of why they even need life insurance in the first place. People often don't know where to begin and don't want to sound silly by asking the "wrong question."

There's a lot to understand about life insurance, and we want to make sure you have all the information you need to make informed decisions about protecting the financial future of your family.

Call, text, or email Lisa's team today for your complimentary quote.

470-349-8019 | [email protected] | www.lisatorres.org