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Life insurance is very important. It provides protection for you as well as your family in the event of your passing. There are different myths that you need to know about in order to effectively purchase a policy in Newark.
You are Too Young
Many people believe that they are too young for life insurance and this is something that should be purchased upon retirement. The reality is that there are plenty of reasons why 30 and 40-year-olds should be purchasing life insurance, and at the top of the list is that it is more affordable.
Employer-Provided Policies are Sufficient
Every policy is a little different and therefore you need to look at what your employer is providing. It is likely a term policy and disappears once you leave the company. It may also only be one or two times your annual salary, which would not be sufficient enough to protect your family.
Online is Where to Buy a Policy
While you can get some deals online when purchasing life insurance, many people purchase without knowing exactly what they are getting. Speak to an independent insurance agent so that you can discover more about available policy options.
Buy Term and Invest the Rest
There are some big differences between term, whole, and universal life insurance. A big myth is that people believe you should buy term life insurance and then invest the difference since it is the cheaper option. However, whole and universal can provide a cash value – and it is definitely something worth exploring, especially if you have it available within your budget.
There are plenty of other myths out there, and speaking to an independent insurance agent can enlighten you about the possibilities.
At E.S.T.I.R. Inc. we look forward to helping you find a policy that you can count on for life insurance. Call now and one of our agents can answer questions, get quotes, and more.