I know what you're thinking, I have financial hardships right now. That might be true but think about the burden you are leaving to your family. Bills are burdens!!! You know this so don't put your family in the position of taking up donations outside the grocery store, having fish fries, or setting up go fund me accounts so they can bury you. You should be leaving an inheritance for your spouse and children not burdens. An inheritance literally means to leave a legacy. What type of legacy do you want to leave?
I recently spoke with leading financial expert Reshell Smith, certified financial planner and licensed insurance agent to dispell some common misconceptions about insurance because I want you to be informed and covered.
Miconception#1 - There are too many choices in insurance. I don't know which type to get.
Truth: There are two types of life insurance term and whole life. Term is for a certain period of time. It could be 1, 5, 10 years etc.. depending on your policy. Term life has an expiration date and is generally cheaper than whole life. Whole life covers you your entire life and has the added benefit of building up cash during the life of the policy that can be used later to cover expenses.
Misconception#2 - I'm single. I don't need insurance.
Truth: That is certainly not true. While single you might not need as much as a married person or a person that has children, but you still need insurance. You should have a policy to cover your funeral and any outstanding bills. If you are married or have a family you will need more coverage as your income will have to be replaced.
Misconception#3 - Insurance is a scam.You don't really need it.
Truth: Insurance is not a scam and you most certainly need to have a policy. Please research insurance and your agent before getting any type of policy. You want to make sure that your agent understands your needs and the needs of your family. You want to make sure you have enough coverage and that you understand your policy.
Having insurance is having peace of mind in knowing that you left your love ones with a legacy of financial security and that my friends is FABULOUS!
Be blessed and fabulous!
P.S. For your insurance needs or questions about all things financial please contact Reshell Smith at email@example.com. She is the bomb and will help you get your financial life together.