7 Myth of Life Insurance

Public awareness to purchase insurance products are often called low. This is partly due to the allegations regarding the loss or constraints that would be obtained if you purchase an insurance product. True?

This is what needs to be clarified. Life insurance is an important part of financial planning. However, misunderstanding about life insurance can prevent people to get benefits. Later, when there are problems, he should have realized long ago purchasing insurance. So you do not inedible gossip or hearsay about life insurance (which is not necessarily true), you should first identify the myths surrounding the most popular life insurance.

1. Buying insurance is complicated
   It takes time to process your insurance purchase, including approval of insurance demand that you ask. However, the current financial planner aka insurance agent already applied fetch the ball. That is, they who come to you and take care of everything. If less clear with the rights and obligations, you also can access its own on its website. You can also compare themselves with other insurance products. If still not clear, you can schedule another meeting with your agent.
2. All the same insurance policy
   His name is also the product or merchandise. Each would have advantages and disadvantages, which are manifested in the form of policy. The policy may use the same term, but the substance of what he can cover different. So when you buy an insurance product, do not just consider price alone. Read a good policy given that you do not feel cheated later.
3. Life insurance is generally too expensive
   We will buy insurance, you will be given the option to pay premiums that match your ability. Premium selected young people will certainly be lower than those already established. Moreover, in addition to annual paid, there is also the premium can be paid monthly. The value of this premium can you upgrade when the better your financial condition.
4. The housewife does not need to buy insurance
   You may not have income, but you would still have to provide facilities needed by the family. For example, child health, clothing, food, home care, and so forth. When her husband dies suddenly, or not able to work again, for those needs you must meet their own course. Well, life insurance can guarantee your safety while the couple was no longer there to meet your needs.
5. Only people who already have children who need insurance
   According to Michael Bonevento, senior financial advisor at Ameriprise Financial Services, Inc.., They are married and married with children, or married with children with special needs, may have an obligation to buy insurance. Even so, there are many instances where single people also have insurance. When the single came from poor families are in, he can leave the insurance claim for his family when problems occur to him. So he took the insurance to make sure his family did not have financial problems when he was gone.
6. People who are young and single does not require insurance
   Is there a person who suffered a loss when we die? However, although we do not rely on others, we still would leave the credit card debt, mortgage, loan cash, until the funeral expenses. Life insurance policy generally will cover these costs. The sooner, or the younger you buy insurance, you can get lower premiums. Insurance also will guarantee the costs you spend when you are having health problems later.
7. If a company already providing insurance, for what else to buy insurance?
   Many companies that provide life insurance or health insurance for its employees, whose value may be equal to your salary a year. This may be a benefit to you, but what if you do not work anymore in the company? Did not you can not predict when you will experience the risks that might occur? What if suddenly you are admitted to the hospital? It may be too late if you just buy the insurance when it is needed to anticipate the pecuniary loss which may arise due to the risk.

Source : Kompas