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Family on SwingThere's a constant swirl of information about life insurance on TV and among friends. But how can you separate fact from fiction? We've put together a few of the most common bits of information to help you decipher the difference.

You Don't Need Life Insurance Unless You're Married And/Or Have Kids

Fiction: Even single individuals with no children can still have dependents. For instance, they may care for an elderly parent or a disabled sibling. There are numerous people who may be affected by the loss of your income, including anyone who has cosigned a loan or lease with you. Life insurance can protect more than just spouses and children.

Life Insurance Is Expensive

Fiction: While some life insurance policies do come at a higher cost, many people can get the coverage they need for around a dollar per day. In fact, studies have shown that most people grossly overestimate the cost of life insurance. You’ll never know how it'll fit into your budget until you get a quote.

Death Benefits Can Be Claimed Tax-Free

Fact: In many cases, the money paid out by life insurance providers is free of income tax. That means that your dependents get much more out of what you put into a policy, making it a great legacy to leave behind.

Employer-Sponsored Coverage Is Sufficient

Fiction: The life insurance you get through work should be viewed as a band-aid and not a solution. While every little bit helps, this coverage is often much less than what your family requires. Not to mention, these policies are rendered inactive when you leave an employer.

You Must Take A Medical Exam When Applying For Coverage

Fiction: For many life insurance policies, you are required to take a medical exam to determine the state of your health. However, there are insurers that offer policies free of an exam. Your independent insurance agent can help you find this type of coverage.

Learn more about truths and myths. Call Sound Benefit Solutions at (925) 244-1330 for more information on San Francisco life insurance.
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