If you do not currently have a life insurance policy, you could be making a huge mistake. Life insurance is extremely important for whatever your role is in your family is or even if you are single. Here are three of the common myths about life insurance from an excellent Hartford CT insurance company that you need to understand now.
You Don’t Need Life Insurance If You Are Single
Everyone who has any debt, mortgage, or plans to have a funeral when they die should have life insurance to cover at least these expenses. Considering that most single people do have debts or a mortgage, and a funeral is pretty much given, a life insurance policy to cover these costs is paramount.
Your Group Life Insurance Is Sufficient
You might be getting life insurance through work and it might be enough, but then again, it might not be. If you have dependents, or if you know that your family will have to pay estate taxes to pay after your death, then life insurance through your employer is probably not sufficient.
You Only Need Life Insurance If You Are the Primary Breadwinner
Although life insurance from a reputable Hartford CT insurance company is intended in part to cover the costs of lost wages in the event that a person earning income in the family dies, even homemakers have expenses that will need to be covered in the event of their death. Life insurance payouts for homemakers can pay for childcare, groceries, and bills that they would have paid.