Common Reasons For Putting Off Buying Life Insurance
Been putting off buying life insurance? Personally, my middle name is procrastination as I put off just about everything until the last minute. I’m sure my picture is in the dictionary next to the word! Here are some common reasons why folks may be putting off buying life insurance.
1. I have insurance through my employer. Most employers offer a (small) flat amount or a multiple of your salary. Group insurance – as well as the voluntary life offered through employers – is a good complement for your life insurance portfolio, but shouldn't necessarily be the whole thing. Some questions you need to be asking yourself:
a. Is the amount sufficient for my family’s needs?
b. What options do I have if I leave their employ? Is it cost effective?
2. I want to lose those last 15 pounds so I can get the best rates. A great idea, but you’d need to keep those pounds off for a year to see the benefit on your insurance rates. Insurance underwriters are looking to see that you’ve not only lost the weight, but have maintained your new weight as well.
3. I’m a stay at home parent, we don’t need life insurance. SO not true, you are invaluable as your family’s caregiver. You can’t put a replacement price on that, and if you’re kids are young help will be needed.
4. I don’t want to have the insurance exam – I don’t like needles. Paramedical examiners are experienced phlebotomists and a lot of times are nurses. You need to tell your PivotCare agent your concerns so they can work to get the best person to help you.
5. I don’t have time – I travel a lot for business. As long as you’re traveling within the US, your PivotCare agent can make that work. Our applications are completed over the phone and the insurance exams can be completed most anywhere. We’ll discuss your schedule with you to get these items coordinated properly.
Our website has various tools available that can help you determine the amount of life insurance you might need.
About the author: Melanie Tretheway has been in the life insurance business for over 30 years. She is a mother of two who loves baking, reading, gardening, and taking care of her family. Melanie takes great pride in making sure you are informed, especially when it comes to choosing the right life insurance policy for your family. You can contact Melanie at 1-800-651-1953 or MTretheway@Pivot.com.