Life insurance is something that everyone needs but that a lot of people do not have.
This type of insurance protects your family’s well being when you are no longer around to do so. It supplies financial coverage to your loved ones so that they are not monetarily strained after you pass. This can cover funeral expenses, any remaining debt you may have, and supply additional income when yours has stopped.
To fight the wrong information about life insurance, below are the top 3 misconceptions:
- Your employer provides all the life insurance that you need.
While your employer can provide life insurance equal to 1-2 times your annual salary, for replacement of your income for your dependents, you would need at least 5 to 8 times your income. Keep in mind that while you currently may have enough insurance from your job, once you leave your job, so will the insurance.
- Only the primary earner needs life insurance.
For those who are the stay-at-home parent, if you were to pass, the cost of hiring someone to replace the roles that you do, (child caring, washing, cleaning, cooking), can amount to a huge expense. It should be noted that both spouses should have life insurance.
- My health disqualified me from life insurance.
There are a lot of insurance companies that cover a range of health conditions. Many specialize in high-risk conditions so that everyone can maintain quality life insurance!
For the top life insurance visit the The Misner Agency. We operate in Bloomingburg, Livingston Manor, Westtown, and Woodbourne, NY. We are dedicated to finding each individual the correct life insurance! While it can be a daunting activity, our trusted professionals guide you through the process of selecting perfect coverage for yourself and loved ones. Get started today!