Investing in life insurance is a wise choice, especially for people who have lots of dependents. Life insurance funds can be used in any way that a beneficiary wants, including paying off a mortgage, covering funeral expenses, moving to a new home, etc. If you are considering investing in a life insurance plan, make sure to first speak with a qualified agent serving the Lakewood area at Colling Insurance Services Inc. Also, make sure that you don’t fall victim to either of these life insurance myths.
Myth #1: Only people who have children need life insurance
Children are a great reason to invest in life insurance because the funds can be used to pay for their college tuition, to buy a home, and it can be spent in many other ways. Still yet, though, even if you don’t have children, there’s still a chance that you might want to invest in life insurance. If you have a spouse who depends on you for financial support, then life insurance is of the utmost importance. The primary purpose of investing in this type of insurance vehicle is to ensure that your beneficiaries can maintain their same standard of living once you pass away.
Myth #2: Life insurance doesn’t make for a good investment
When investing in term life insurance, many people think that they are wasting their money because there’s always the chance that the policyholder won’t pass away during the predetermined number of years that the policy is created for. Still yet, though, life insurance is a great investment when invested properly. The best way to make sure you invest in a policy that makes for a good investment is by speaking with a qualified agent serving the Lakewood from Colling Insurance Services.