By: Staff Reports | Gwinnett Citizen
By: Staff Reports | Gwinnett Citizen

Life Insurance myths

Too many people are taking an unnecessary risk by not protecting their loved ones with life insurance.  While the Thele Moore Agency offers auto, home and business products; life insurance is the most rewarding product.  It offers us the opportunity to secure the future of our customers.

Here are a few myths about life insurance from Life Happens the July 15, 2015 article written by Robyn Parets for Nerdwallet.

2016 Valerie Clark 440Myth #1  It’s expensive.

The biggest misconception about life insurance is its cost: 80% of those surveyed overestimated the price for a given policy, according to the study.  That is particularly the case for millennials, who overestimated the cost by 213%, and Gen Xers, overestimated by 119%. When asked the annual price for a 20-year, $250,000 term life insurance policy for a healthy 30-year-old, respondents estimated $400. Millennials guessed $600.  The actual price is about $160 annually

Myth #2 If you are young and healthy, you don’t need it.

Individual life insurance needs depend upon many factors, but if possible, it’s better to buy a policy when you’re young and healthy.  For example, a policy that costs $12 a month at age 30 will cost about $32 a month at age 50. Health problems can develop as you age, therefore the price goes up.

Protect your insurability by purchasing life insurance as early as possible.  I recently spoke with a customer who had a heart attack in his 30’s and has had difficulty finding insurance to fit his budget.

Myth #3 Life insurance through your employer is sufficient.

Group life insurance is a great employer benefit, however it may not be enough to provide for your family.  What if you lose or leave your job? A workplace policy doesn’t travel with you, so a personal policy is the safest way to ensure your family is taken care of.

The recent downturn in our economy left many of us without jobs and life insurance. 

Protecting your family with life insurance is important to the Thele Moore Agency.  Contact us, to review your life insurance needs and options. 

Life Insurance offers peace, security and safety for the ones that you love.

Visit www.thelemooreinsurance.com or call 678-537-8430 for more information on insurance products