If you’re like most people, it’s not that you don’t appreciate the value of life insurance. In fact, most everybody I come across believes they need more coverage. You probably wouldn’t mind owning additional life insurance. It’s just that you don’t want to buy, the thought of paying for it literally immobilizes you from inquiring about it.
Thinking, talking, listening, and reviewing whether to buy life insurance makes many people feel uncomfortable. Below are many of the reasons why you might be putting off buying life insurance you need and eventually come to want.
I was told life insurance was only for married couples with young children
Life Insurance is owned by all people of all ages (0-100), married couples and non-married partners, business partners, and the like. Although each situation is unique, they all share in common a need and desire to own life insurance.
I don’t have enough time
You’ll get around to buying life insurance, just not today. You have a lot of things to do before you can get to it; buying life insurance often becomes relegated to a low priority—just another thing you ought to do. Not to mention, the whole idea of discussing life insurance isn’t a whole lot of fun. Who wouldn’t rather go on a bike ride, go shopping, and chat with a close friend?
Nonetheless, buying life insurance is really an important task that should be addressed. Life insurance can help ensure that your family or partner will have enough money to meet their financial obligations in the event of your death.
The subject scares me
If you really don’t like to think about death, you’re not alone. Death is an unpleasant subject, and life insurance raises issues of our own mortality.
It doesn’t have to be that way. People who do act on their life insurance needs tend to focus on the positive aspects: meeting their responsibilities and understanding their big picture planning. They also recognize that life insurance is for the living, it’s a love product.
I wouldn’t know where to begin
I don’t have a clue about what type of policy, how much life insurance I need, etc. Actually, few understand life insurance: why we need it, how much, what type of policy is best for your situation, how benefits are paid, how it should be coordinated with all your other assets, how and when it’s paid, tax questions, etc.
That’s okay. It’s not your job to understand everything about life insurance, that’s the job of an insurance and planning professional to be able to show you what you need and want and how it fits into your budget.
It’s easy to understand why people tend to put off purchasing the life insurance they know they need. Take the first step and make it a priority to look into it, find an experienced professional to meet with that is willing to have an open-ended discussion, and make that appointment. What could be better knowing you have peace of mind that your loved ones are protected, even if you’re no longer around to provide and for them.