Misconceptions About Life Insurance Coverage


As with anything in life, there are a number of myths surrounding life insurance in Antioch, CA. Unfortunately, these misconceptions can cause young families to overlook coverage and even fail to understand their policy properly. We take a look at common myths hurt young families and the truth behind them.


Myth: Only the breadwinners need life insurance

Whether you bring home the largest paycheck or the smallest, your family relies on your income to maintain the same quality of life. Both earning adults should take out life insurance coverage so that the family’s finances don’t have to skip a beat if something happens to one of them. Stay-at-home parents should also take out life cover because they provide valuable services such as cooking, cleaning, transportation, and more which can be costly to replace.


Myth: At the end of my term policy, I can just renew it

Many families realize that even after the kids are grown and the mortgage is paid off, their need for insurance continues. Because life insurance premiums increase with age, renewing your policy when the term expires can be expensive. If your health has taken a nosedive too, renewal may be impossible.


Myth: I only need term insurance

Term life insurance is popular among young families because it offers coverage for a set period of time, say 10 or 30 years, for an affordable premium. However, you may benefit from whole life insurance (permanent insurance) that lasts your entire lifetime. This coverage also builds up a cash value that can be borrowed against, which can be helpful for families when cash is needed.


Have questions about finding the right life insuranceContact Jack Stone Insurance Agency who can help you find the right policy for your needs and wants.

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