By Charlie Brown

The topic of insurance seems to be a no-go zone for quite a number of people. There are misconceptions that need to be addressed. Most people approach it with trepidation owing to the fact that there is an undesirable ring to it – death.

Understandably, not many people want to think about their demise. Death happens to others and you want no part of a discussion that centers around it. So, when an agent comes around and starts talking about it, you will quickly dismiss them. To you, it is an added expense that you do not need.

Wait a minute!

Hold it right there! It is not even about you! It is about your loved ones; the people that mean the world to you; those that depend on you. What would their life be like without you? If that has sunk in, then here are the misconceptions you might have been entertaining.

1. You do not need it.

This means you do not consider it important and therefore, it is not necessary for you. You are not going anywhere any time soon. One thing we love to gloss over is the inevitability of death. We also forget that it does not have a set time when it should strike.

If you think about the financial impact on your finally should you be unavailable, you might see life insurance in a different light. You might want to visit sites like and other related sites for more information.

2. Your employer has provided life insurance and it is enough.

I will have to burst your bubble a little bit here; that is just a starting point. You can still purchase additional cover either via your employer or on your own. You can never be adequately covered. Your family will thank you for it.

3. You only need term life insurance.

Again, wrong. Term life insurance only provides a death benefit. Your beneficiaries will receive payments for a set period of time, then they will cease. A cash value life insurance would be a good idea because it grows with time; for as long as you fund it. It also comes with a death benefit.

A cash value life insurance helps you with future plans like paying for college or capital for business, or even retirement.

4. Your retirement benefits are enough.

Most assuredly, they will not be enough. Take advantage of every saving opportunity that is presented to you to put aside some funds for the future. You will have have the retirement that you have always hoped for and be able to do the things you hoped to do, like travelling or owning a retirement home in your preferred location.

5. Making assumptions about how much life insurance you need

A financial expert is better placed to help you with this process. There are many factors to consider that will guide the financial advisor in quantifying how much is appropriate for you. Visit one with an open mind instead of a set purpose.

The most important thing is to ensure that your loved ones are taken care of with regard to future financial obligations should you not be present.

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