Thursday, September 22, 2011

Life Insurance Myths and Misconceptions

Guest Blog By: Romi L.

Life Insurance “Rules”

There are many “common truths” about life insurance that are thrown around under the guise of helpful information, but many of these “truths” are based on misconceptions about how life insurance works and who should have it. The best way to determine the amount of insurance you need, if you need it at all, is to be evaluated by an insurance professional.

One myth that persists is that everyone needs life insurance. It is true that most individuals do need life insurance, but those who are very wealthy with little to no debt and enough resources to cover final costs may be okay without life insurance coverage. Life insurance may not be a prudent investment especially if they have no dependents that rely on their income for day-to-day living.

Another misconception that people have about life insurance is that they need so many times of their yearly income in coverage. This is common because it provides a convenient formula to follow when they shop for insurance, but the information is very faulty. People need to evaluate the amount of debt they have –i.e. mortgage, car note, and old medical bills – to ascertain the amount of coverage they should invest in.

Insurance Shopping Made Simple

You can obtain affordable quotes for Kaiser Permanente insurance to insure your family’s well being once you’re gone. The insurance professionals of Kaiser Permanente will help determine the amount of coverage you need for your family.

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