{"id":133,"date":"2022-12-04T17:22:00","date_gmt":"2022-12-04T17:22:00","guid":{"rendered":"http:\/\/fitness3.mythemecloud.io\/?p=133"},"modified":"2023-02-18T04:56:27","modified_gmt":"2023-02-18T04:56:27","slug":"top-five-life-insurance-myths","status":"publish","type":"post","link":"https:\/\/texaslifegroup.com\/2022\/12\/04\/top-five-life-insurance-myths\/","title":{"rendered":"Top Five Life Insurance Myths"},"content":{"rendered":"

Don\u2019t let these five misconceptions delay you from protecting your<\/strong>
\nloved ones with life insurance.<\/strong><\/p>\n

More people are preparing for the unexpected.<\/strong>
\nThe untimely death of a loved one once seemed like a remote possibility. But the pandemic has brought a
\nnew awareness of how vulnerable life can be. Numbers from LIMRA, a life insurance knowledgebase, tell
\nthe story:<\/p>\n

      \u25cf Nearly one-third of consumers surveyed (31%) say COVID-19 has made them more likely to
\npurchase life insurance within the next 12 months<\/p>\n

You only need to type \u201cfunerals\u201d into the search field at GoFundMe to see endless tales of the
\nheartbreaking loss of a loved one, followed by financial crisis for their family. The truth is, life can be
\nbreathtakingly uncertain. But the financial impact of a loss can be avoided with life insurance.<\/p>\n

Our technology partner Ethos  has modernized insurance to help you find the right policy for your needs, with zero hassle. Get your no-obligation quote in seconds.<\/a><\/p>\n

The bottom line: Millions of Americans lack critical life insurance. But today, getting coverage is<\/strong>
\nsimple with Texas Life Group.<\/strong><\/p>\n

Do these thoughts sound familiar?<\/strong>
\nHere are five of the most common reasons people put off getting life insurance\u2014and why you should
\nrethink them.
\n1. I can\u2019t afford it<\/strong>. Research finds people wildly overestimate the cost of term life insurance.
\nMillennials especially overestimate by 5\u201310x! In fact, a healthy 35-year-old non-smoker can buy a
\n10-year, $1,000,000 term life policy for about $65 per month through Ethos. That\u2019s less than the
\ncost of many auto and home insurance policies. And of the three\u2014car, house or family\u2014which is
\nmore important?
\n2. My life insurance coverage through work is enough.<\/strong> Workplace coverage is typically 1x
\nsalary. That\u2019s not enough to help a grieving family maintain their way of life and fund long-term
\ngoals like college tuition. Also, if you leave a job, you can\u2019t always take your life insurance with
\nyou.
\n3. I don\u2019t want to think about it.<\/strong> An Ethos application takes most people less than 10 minutes to
\nfinish. There\u2019s no time like the present to spend a few minutes getting the protection your family
\nneeds. In the time it takes you to finish your morning coffee, you could be approved for coverage.<\/p>\n

     \u25cf The longer you wait, the more expensive life insurance gets. Healthy, younger adults can get the most coverage: up to $2M in term life through Texas Life Group.
\n     \u25cf Circumstances can change and future insurability is not a given. Once you get coverage,
\nyou\u2019ll never lose it due to health changes.<\/p>\n

4. I don\u2019t need it.<\/strong> Some people believe they\u2019ve got sufficient assets to protect their family if the
\nworst happened. In other words, they plan to \u201cself-insure.\u201d It sounds good\u2014but it may be
\nunrealistic. Consider:
\n     \u25cf Forty-two percent of Americans would face financial hardship within six months if the
\nprimary wage-earner were to die unexpectedly, according to LIMRA.
\n     \u25cf A middle-class child born in 2015 will cost nearly $300,000 to raise to adulthood. That\u2019s
\nnot counting the cost of college; currently about $80,000 per year for an Ivy League
\neducation.
\n     \u25cf Did you know that life insurance policies can offer benefits even while you\u2019re living? For
\nexample, if you get a policy with a standard terminal illness rider, you could access a
\nportion of the policy\u2019s death benefit if you become terminally ill.
\nThe truth is, you can choose a policy with much more coverage than you can provide on your
\nown, for an affordable rate.<\/p>\n

5. The process is too complicated.<\/strong> This used to be the case. When you wanted life insurance,
\nyou had to schedule a medical exam, then wait weeks or months for approval from a carrier. But
\nthe Ethos process is built for the way people do business in the 21st century, with no need for
\nblood draws or other intrusive tests. Ethos\u2019 technology enables us to approve about 95% of
\npeople aged 20\u201385 in as little as 10 minutes\u2014with just a few health and lifestyle questions.<\/p>\n

Take action to protect your loved ones<\/strong>
\nIf you\u2019re ready to make a plan for life insurance, start by getting a quick quote<\/a> from our friends at Texas Life Group.<\/p>\n","protected":false},"excerpt":{"rendered":"

Don\u2019t let these five misconceptions delay you from protecting your loved ones with life insurance. More people are preparing for the unexpected. The untimely death of a loved one once seemed like a remote possibility. But the pandemic has brought a new awareness of how vulnerable life can be. Numbers from LIMRA, a life insurance 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