When it comes to life insurance, it seems pretty straightforward, doesn’t it? You pay money and if something happens to you, life insurance takes care of your family. If you think that you already know everything that you need to, though, think again. These are five of the most common myths about life insurance debunked by our insurance Summerville, SC agency. Are your dependents safe if something happens to you?

I’m Too Young to Need Life Insurance

Although none of us wants to face the fact that we can’t live forever, unfortunately, we can’t. If something should happen to you, even if you don’t have dependents per se, your family will be tasked with taking care of funeral expenses and potentially paying off any debts that you have in your name. If you take out a short-term policy, then you can make sure that at a minimum your services are covered, and maybe even help out those you love in other ways.

I Can’t Afford Life Insurance

We hear from people all the time that they can’t afford life insurance – when the reality is that you can’t afford not to have it! Life insurance comes in many different types and packages, and we can easily find one that will suit your budget. If you choose a life insurance policy that accrues over time, then you can look at it as savings instead of just life insurance. You want to put away a little bit for a rainy day; with some of our life insurance offerings, the money you contribute each month can have a dual purpose.

If I am a Stay-At-Home Spouse, I Don’t Need it

For those who think that they are a stay-at-home partner and no income would be lost if something should happen, you are forgetting the value that you add to your household and your partner’s life. Things like taking care of children or elderly parents, household maintenance, and other contributions that you make all cost money. If something happens to you, it will be a loss in many ways – financial included.

My Children Are Grown and On Their Own

Life insurance is not just about taking care of your dependents when you are gone. Throughout all stages of life, you need to have life insurance. Even if your children are grown and on their own, things like paying for your funeral expenses, estate taxes, and any outstanding debts might befall them. Also, having life insurance is a great way to leave something for your children after you are gone that will not be taxed and does not have to go through probate.

My Employer-Sponsored Life Insurance is Enough

Many employers now offer life insurance benefits as a perk. It is an excellent perk, but it is often not enough to cover you fully. Also, if you leave your job, you leave the life insurance behind, which means that you will have to get another policy. The older you get, the more expensive it gets, which is why having a policy of your own that you start early is so important. Employer-sponsored life insurance is a great addition, but it is just that – an addition!

To many people, life insurance might not seem necessary, but if you are an adult with the means, then it is critical for several reasons. At Abri, we offer many different packages and options for life insurance. Contact us today to discuss how we can start making sure you are covered should anything happen.