Misconceptions About Life Insurance

[DHK]

You know, that makes me want to ask a question. Pricewise would a young healthy person be better off having their own policy? Aside from the no life insurance after changing jobs, what are the other cons about group life vs. individual life. Face Value limits? Conversion? Appreciate any answer. We can all pitch in to have rebuttals sheet for someone who said they "have it at work"

Don't give "rebuttals". Ask questions.

"That's great! And you should maximize what they make available."

"How much coverage do you have?" "Why so little?"

"And how much cash value does it build for you?" "None???"

"And when you leave your job, how much of your insurance can you keep for you and your family?"

"And does your agent for the company contact you to show you how to maximize your policy for yourself and your loved ones?"

***

"So, let me understand you correctly - you don't have enough coverage, with no cash value build-up, and you can't take it with you if you leave the job. But at least it's cheap, right? I bet you're getting exactly what it's worth!"

"My policies may have a higher cost, but they build a cash value, can have a higher benefit, and you can keep it as long as you are paying into it. Would you like to take a look and see how it might work out for you?"

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BTW, that's a STUPID article!

The paragraph that said "Whole life is a better buy for young people"... NEVER talked about any benefits to buying whole life!

Yet, it says "don't dump your insurance in retirement". What a load of crap from another "CFP". She IS a "misconception" about life insurance.

I think I'll use this as a marketing tool for people who also think this way... and help them see the illogical fallacies in their thinking.

 

[xrac]

Many think that there is no regulation for the life insurances but there are bodies which keep strict regulatory actions on the insurance companies.Life insurances are for long term so it sometimes requires too much of checking & market survey to find out the genuinity of the policy and to understand whether the insurance company has the fund to take care of the policy holder for that period of time.

The biggest misconception is that everyone who writes about life insurance understands what they are writing!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!