Life insurance can be surrounded by confusion, and myths often prevent people from making informed decisions. Let's bust some of the most common misconceptions:
Myth 1: Life insurance is too expensive.
Truth: Many policies cost less than your daily coffee. Starting young helps you lock in low premiums.
Myth 2: Only the main income earner needs coverage.
Truth: If a stay-at-home parent passes away, the cost to replace childcare, transportation, and household help can be significant.
Myth 3: I already have life cover through work.
Truth: Employer policies are often minimal and may not offer enough coverage or stay with you if you change jobs.
Myth 4: I can wait until I'm older to get it.
Truth: Waiting means higher premiums and a higher risk of being declined due to health issues.
Myth 5: Life insurance only pays out when you die.
Truth: Many policies include early payouts for terminal illness, and some offer add-ons for trauma or disability cover.
Don't let misinformation stop you from protecting your family's future.
