Most Common life Insurance Myths

When it comes to financial planning and opting for Life Insurance, there are lots of myths out there

But it is very hard to figure out what’s true and what isn’t.

In your search for the right policy, it is important to understand the truth behind some common misconceptions on life insurance,” he added.

1. Life Insurance is expensive

2. Not everyone needs a life insurance cover, especially young people

3. The duty of the insured is completed once a Life Insurance policy has been purchased

4. Life insurance is for paying off debts

5. Term life insurance coverage from the employer is enough

6. Life insurance policy only benefits in the eventuality of death or post the term ends

While some myths are benign and do us no harm, that is not necessarily true of those myths that relate to our personal finances.

Life insurance is a simple product and a comprehensive solution for protection once you overcome these myths

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