Busting Common Life Insurance Misconceptions

Life insurance has a fairly odd place in American life. While most of us think we need it, one in three people is going without it. This is largely thanks to a few commonly-spread lies about this type of coverage. Life insurance in Hudson, NY is important for those with families, assets, debts, and more. Check out why you need this coverage by learning the truth behind these myths.
Myth #1: It’s too expensive.
When polled, four out of five Americans overestimate the cost of life insurance. Not just by a little, either; 25 percent of people thought a policy that costs just $150 a year would set them back a whopping $1,000! Life insurance is much more affordable than you may think.
Myth #2: It’s for older people.
You’re not immortal. If you think you can wait until you’re older to think about getting life insurance, you might be right, but this could be a costly mistake. Worst case scenario, you leave your family without a benefit to help them survive without you. Best case scenario, you end up paying much more for your premiums than you would now as a younger, healthier person.
Myth #3: Only the breadwinner needs coverage.
Whether you bring home the largest paycheck in your household or the smaller one, your family relies on your income to maintain its quality of life. Even if you don’t workout outside of the home, having life insurance is a smart choice. Stay-at-home parents perform valuable services such as childcare, cooking, housecleaning, and household arrangement, which can be costly to replace for a surviving spouse or partner.
Now that you know the truth about these misconceptions, you can secure the right policy for your needs. The team at Lofgren Agency is here to help with all of your life insurance needs. Visit us in Hudson, New York to get started.

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