5 Life Assurance Myths in the USA

Myth 1: Life Insurance Is For Everybody

There are many who believe that everyone needs life insurance. It's just not true. Life insurance was

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What is Mortgage Payment Protection Insurance?: Mortgage Payment Protection Insurance will pay your monthly mortgage repayments if you were off work because of sickness, an accident or unemployment.
How does my age affect my life insurance premium?: Age is one of the most influencing variables that affect the premium for any given form of life insurance policy.
Will my life insurance premiums increase over time?: The answer to this question depends upon whether you have a normal “Guaranteed” policy, a “Guaranteed indexed linked policy” or a “Reviewable” policy.
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created to help take care of the financial needs of your dependents in the event of your death. If you don't have any dependents, there really isn't a need to have life insurance. You can put children and retired individuals in this category. They have no one depending on their income. A small amount of life insurance can be helpful for final expenses, but it may not always be necessary.

Myth 2: A Spouse Does Not Need Life Insurance

This is most certainly not true. If you have a spouse at home and also have children, then you need life insurance protection for them. Why is that? Well, take a minute and think of the expenses you would take on in the event of your spouses death. You will have childcare expenses, housekeeping, transportation and a whole host of other expenses that you may not have even considered before now. Your spouse is really working a full-time job at home with trying ( personal loans ) to take care of everything. There death would impose a great financial hardship, and for this reason alone, they need life insurance protection.

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