Life insurance provides greater financial security to loved ones after you die, but sometimes people put off buying it because of misconceptions about these policies. State Farm’s Melanie Bakala wants to break down the main misconceptions, explaining why consumers should consider life insurance. “It takes away the financial stress when people are going through the worst times in their life,” she says.
Bakala Dispels 3 Misconceptions About Life Insurance
Bakala’s team visit with people who have life insurance through their employer, and those who do not because they can no longer work or have retired. In both cases, she says it’s important to review whether any policy you do have or could have will address your family’s future needs.
Bakala says three main misconceptions get in the way of people purchasing life insurance.
- Misconception 1: It’s Too Expensive
Bakala says many consumers don’t even think about trying to get life insurance because they assume the cost is going to be too high and therefore too expensive for them to afford. “But having a policy that you own is more affordable than you think,” she says. Several risk factors affect life insurance premiums, including type of policy, age, gender and health history. “In general, over half the population thinks term life insurance is over three times more expensive than it actually is,” she explains.
- Misconception 2: It’s Too Complicated
Bakala says many people shy away from trying to get life insurance because they assume the quoting and purchasing process is going to be too difficult or complex. “They assume that they must gather a bunch of medical records, go into the office, meet with an agent, take a medical exam, and so on,” she says. But she says you can get an online quote by answering just a few simple questions.
- Misconception 3: It’s Not for Me
Bakala notes that many people have a limited knowledge of life insurance, which often leads to a lack of understanding of why they even need life insurance in the first place. There’s a lot to understand about life insurance, and Bakala says she wants to make sure you have all the information you need to make informed decisions about protecting your family’s financial future.
Contact Melanie Bakala and her State Farm team to learn more. Visit their Lacey/Olympia or Shelton websites or call 360.972.7905 (Lacey/Olympia) or 360.426.2428 (Shelton).
Sponsored
