What are some common misconceptions about life insurance?

What are some common misconceptions about life insurance?

Many people believe that life insurance is only for the elderly or that it's too expensive. In reality, it's beneficial for anyone.

Is it true that I only need life insurance if I have dependents?

Not necessarily. Even if you don't have dependents, life insurance can cover debts and funeral costs, providing peace of mind.

Do I need a medical exam to get life insurance?

It depends on the type of policy. Some policies, like term life insurance, may not require a medical exam, especially for lower coverage amounts.

Can I get life insurance if I have pre-existing health conditions?

Yes, you can still get life insurance, but it may come with higher premiums or exclusions based on your health condition.

What happens if I outlive my term life insurance policy?

If you outlive your term policy, it typically expires, and you won't receive any benefits unless you renew or convert it.