Are These Five Misconceptions Stopping You From Getting Life Insurance?
Are you having second thoughts or doubts in your head if you are considering having life insurance? You are not alone! Many Filipinos are not really keen on having life insurance because these misconceptions that we are laying down in this article debunk and give a different perspective on having life insurance.
1. Life Insurance is Too expensive.
This is the most common misconception about life insurance. In reality, life insurance is affordable and can be customized, especially when you’re young and healthy. With the availability of options and plans that are currently available, there won’t be any reason why you should not gave life insurance.
2. Life Insurance is Just to Bury the Dead
Life insurance is for all, not for the deceased. You want to make sure that your family is taken care of, but we’ve got to start thinking about life insurance as more than just something to bury with. Life insurance not only provides death benefits but also generates income over time that would increase your cash value while you are still alive.
3. I Should just get Life Insurance Online
Online quotes are quick and easy, but the downside is that they are “one size fits all.” If you want to build wealth or secure your future, online quotes aren’t going to address those concerns. Your needs change over time with age, and so do your life insurance needs. Always consult a legitimate financial advisor to make sure you have the proper coverage you need for your goals and budget.
4. The Insurance I have Through Work is just Right.
Most employers offer some sort of group life insurance package, usually equal to your salary, for free or at a low cost. One disadvantage of employer-provided group life insurance is that if you leave your job — resign, retire, or are terminated — you lose coverage. Another disadvantage is that it may leave you underinsured. It is a wise move to have a personal individual life insurance policy outside of your workgroup life insurance.
5. You Don’t Need Life Insurance if you’re Single with No Dependents.
If you’re interested in building wealth, securing a good financial future, or protecting yourself if you’re disabled or injured, you should consider life insurance. A dependent isn’t necessarily a child but can include elderly parents or an adult special needs relative.
These are a few common misconceptions about life insurance that you have to rethink. Manila Bankers Life is here to help you out with your insurance questions and help you plan your future with plans that would suit your needs.
For more information, visit Manila Bankers Life‘s website: https://manilabankerslife.com/products.html
I did a lot of research on life insurance companies, and Manila Bankers Life was by far the best one I could find. They have good rates, great service, and they’ve helped me protect my family in case something happens to me. With them, I know that there’s someone there who will take care of us even if we need it most.
Looking forward to our Future!
I really enjoyed talking with Manila Bankers Life. I felt that they were very knowledgeable, helpful, and caring. They helped me to protect my family in case of a tragedy, which is something that I needed to do. It was a great feeling to feel safe knowing that I had the right kind of coverage for my family’s needs when anything bad happened to us. Kudos!