Life Insurance Myths: Are You Protecting Your Family's Future?
Life insurance is a crucial tool for financial security, yet there are many myths surrounding it. These misconceptions can leave individuals and families vulnerable. In this article, we will debunk the most common life insurance myths and help you make informed decisions to safeguard your family's future . Myth 1: I Don’t Need Life Insurance Because I’m Single Being single doesn’t mean you should forgo life insurance. Even without dependents, you may need coverage to handle outstanding debts like student loans, credit card bills, or funeral expenses. Without life insurance, these costs could burden your family or loved ones. If you plan to start a family later, now is the best time to buy life insurance. Rates are generally lower when you're younger, and delaying your decision could mean higher premiums down the line. Myth 2: Life Insurance Should Be Twice My Annual Salary This rule of thumb may not be enough. Covering only two years of salary may fall short of your family...