Busted! Don’t Believe These Life Insurance Myths!
Life insurance is an integral part of a financial plan. A good life insurance plan will provide your family with financial security and stability in case you pass away.
Life insurance can be complicated and there are several myths surrounding the subject. Often, these misconceptions have discouraged people from getting life insurance.
To help you separate fact from fiction and get the best available life insurance policy, Camlife Financial Corp has debunked two of the most widely believed myths about life insurance.
Myth 1: Life insurance is too expensive.
Many people believe that life insurance is too costly and avoid getting it. While large amounts of whole life insurance can be pricey, term life is cheap for younger and healthier people. For example, a 35-year-old woman can get a million-dollar term 20 policy for less than $40 per month; a 35-year-old man would pay about $55 per month.
Myth 2: It’s easy to get life insurance later in life or if you have a change in health
People think that delaying getting insurance won’t affect the insurance policies that they qualify for. However, the younger and healthier the applicant, the better the options and lower the cost. Once you get older and develop health problems, life insurance will likely have higher rates if you can get it at all.
If you’re looking for objective advice, reach out to Camlife Financial Corp. As a leading life insurance broker in Vancouver, BC, we specialize in insurance solutions that protect against loss of life or health due to illness or injury. We represent several insurers, which enables us to deliver value to our clients by giving them a plethora of options. Our insurance services are offered to clients across Vancouver, Richmond, West Vancouver, North Vancouver, Burnaby, Surrey, White Rock, Langley, Coquitlam, Maple Ridge, and New Westminster, BC.