Think You Don't Need Life Insurance? Think Again.
- LCD Insurance Services
- Sep 5, 2020
- 4 min read
Below are the top excuses – debunked - and the reasons why it matters so much.
I Can’t Afford It / It’s Too Expensive
You can’t afford NOT to have it. There are affordable options available to you. For every budget. But you need the assistance of a licensed expert to be able to obtain the best quotes based on your unique situation. All it takes is a phone call, an email, a chat, or a text.
I’m Young and Healthy – Why Do I Need It?
That is THE best time to get life insurance! When you are young and healthy. As we age and/or acquire health issues, the price for life insurance increases. Or you become uninsurable. Don’t wait until that happens.
I’m Single – I Don’t Have a Family Yet
Single people still have health issues. Single people still have debt. Single people die everyday leaving their loved ones to cover their funeral expenses. And single people still have loved ones or even charities that can be named as beneficiary. Guaranteeing your insurability while you are young and healthy ensures that when health issues do kick in, you will already be covered.
I Have Life Insurance Through My Job
The free coverage paid for by an employer is typically one to two times your annual salary. That's probably not enough if you have financial dependents. How many years would you want to replace your income if you died tomorrow? Multiply that number by your salary and add enough to pay off debts and fund items like college. Also, what happens when you leave that job? Can you take that policy with you? If so, does it meet current financial needs for you and your family? In most cases, life insurance through your job is not enough. If you can take it with you (most times you cannot), the rates increase to convert it into an individually owned policy. Please check with your employer to be knowledgeable and informed about what you own. Or meet with a licensed agent to review it.
I Don't Have Enough Time
This one is a favorite. You do have time. We all do. The amount of time we spend surfing the web on our phones is proof of how much time we have. The purchase of life insurance truly needs to be as important to you as the purchase of your home, your car, your phone. Because without life insurance, your loved ones may suffer financially as a result.
I Don't Know Where to Begin
If you don't have a clue about which type of policy is right for you, or how much life insurance you need, it's understandable. Few people truly understand life insurance: why we need it, what type of policy is best, how much we need, when and how benefits are paid, how benefits may be taxed, and more. That's okay. It's not your job to know everything about life insurance. Thinking you need to have all of the answers about which type of life insurance is best for you is sort of like needing surgery and thinking you need to know which type of scalpel to use. That's the surgeon's job. In the same respect, the right insurance expert will guide you through the process of selecting the policy that best suits your needs, budget, and objectives, and answer all of your questions.
It Is Boring and Morbid
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. Some people say that the very thought of starting the life insurance buying process makes them feel stressed out. There's no great appeal to contemplating our own mortality. It's a subject we'd rather ignore than address. Plus, the whole idea of discussing life insurance isn't a whole lot of fun. Who wouldn't rather take the dogs for a walk on the beach, attend a child's softball game, or spend those precious few hours of free time in the evening visiting with friends? The result is inertia or denial.
But it doesn't have to be morbid, and LCD Insurance Services can help you through it. Every step of the way. People who do act on their life insurance needs tend to focus on the positive aspects: the idea of meeting their responsibilities to provide for, and care for, their loved ones. They think of it as contingency planning, protecting their families against the uncertainties of life. They also recognize that purchasing life insurance is a selfless act - is really about life and love, about helping to ensure a positive quality of life for their loved ones if they die prematurely.
The Bottom Line
It's easy to understand why people procrastinate purchasing the life insurance that they know they need. But look at it this way: buying life insurance is one way you can help secure your family's financial future. And what could be better than knowing your loved ones will be protected, even if you're no longer around to take care of them?
It's the most selfless, crucial purchase you will ever make.
Be sure to bookmark LCD's Blog, Why It Matters, so you never miss helpful tips and articles: https://www.lcdinsurance.com/blog/
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