When it comes to saving money in Burlington, many people forget to review their insurance options. Life insurance, the same as most other types of insurance, can provide valuable benefits when the policies are properly invested in. People with life insurance policies are often able to leave their families and loved ones with a substantial amount of money to cover a range of living expenses, allowing them to maintain their standard of living. Unfortunately, though, many people end up believing a variety of life insurance myths, which causes them to miss out on the benefits of life insurance. Here’s a close look at two of those myths.
Stay-at-home parents don’t need life insurance
This myth couldn’t be any further from the truth. Stay-at-home moms (or dads) may not earn an income, but the tasks that they perform on a daily basis most definitely save families a lot of money. From transporting kids to and from school and extracurricular activities to preparing meals three times a day, some studies have suggested that a stay-at-home mom’s financial value is upward of $40,000 a year. Because of this, these mothers should carefully consider the benefits of life insurance.
Life insurance is only for the wealthy
Perhaps the reason that many people think life insurance is only for the wealthy is because they only hear about wealthy people’s investing in these policies. Truth is, though, life insurance is very affordable, especially when invested in at a young age. Just remember, the sooner you invest in life insurance, the cheaper your premiums will be. Don’t be fooled into thinking that only the extremely wealthy need to invest in this type of insurance. Contact Don Allred Insurance today to learn more about your life insurance options.