Insurance Blog Post Sample

Are You Using One of These Faulty Reasons for Not Buying a Life Insurance Policy?

Superstitions and false beliefs can lead us to do some pretty strange things. Do you have a lucky shirt that promises to bring victory to your favorite sports team? How about a morning routine that you don’t dare stray from for fear of setting off a disastrous day?

When it comes to ensuring the future well-being of those we love, some of the justifications that we use to avoid buying a life insurance policy not only don’t make sense, but they can also have dire consequences. Consider whether or not you are using one of these reasons to avoid purchasing life insurance.

insurance writer

The Cost Factor

The number one reason that people don’t purchase a life insurance policy when they should is that there is a gross misconception about the cost of insurance. In fact, the 2015 LIMRA study asked just this question and found that 80% of those surveyed overestimated how much an average term life insurance policy would cost. The best course of action is to get some easy online quotes and find out for yourself the true affordability of this important coverage.

Misplaced Priorities

It’s ironic that we don’t think twice about insuring our cars, homes, flat screen televisions, and jewelry, yet often balk at taking out an insurance policy on the person that provided the earning power to purchase all of those items. While saving for retirement should also be a priority, a life insurance policy provides funds in case of premature death that can provide replacement income, college money, and pay funeral costs.

Faulty Reasoning for Delay

Many people delay buying insurance for several reasons. One common reason is that they see themselves as healthy and don’t expect that to change anytime soon. Speak to just one or two people who have come down with an unexpected terminal illness and you might understand how faulty this reasoning really is.

Other reasons for delay include not understanding the insurance policy choices and feeling as if the purchase process will be a hassle. Fortunately, getting a needs assessment and online quotes for life insurance is now easier than ever.

The Unpleasantness of it All

Let’s face it – no one likes to contemplate their own demise. One of LIMRA’s recent studies confirmed that 30% of consumers avoid purchasing a life insurance policy for exactly this reason.  Some people have the superstitious belief that, by purchasing a policy, they’ll be more likely to die in the near future.

Unless you know something we don’t, this is far from the truth and life insurance actually provides peace of mind knowing that your loved ones will be taken care of should anything unplanned take place. There are many reasons why you probably need a life insurance policy, but the most important one is to protect the financial future of those you care about. Life insurance is surprisingly affordable and is now very easy to obtain thanks to online tools.

Leave a Reply

Your email address will not be published. Required fields are marked *