Coral Financial Group Home Page Get A Quote About Us FAQ Contact Us

Coral Financial Group Auto Insurance Home Insurance Business Insurance Life Insurance Flood Insurance

Family Jumping at the BeachThere's a sea of information about life insurance out there; and with so much information, some of it is sure to get twisted around by word of mouth. You've probably heard a lot about life insurance, but what's true and what's simply a rumor? We've busted three of the most common life insurance myths to help inform your financial decisions.

Myth #1: Empty nesters don't need life insurance


Many people think that life insurance is only necessary while raising children and paying off homes, after which they may get rid of their policies. At that point in your life, you will probably be in retirement and therefore, no longer earning the income you once were. If you were to die, would your spouse have enough retirement money to live off of? Life insurance provides a financial cushion to keep your spouse afloat in times of hardship.

Myth #2: A life insurance policy should equal twice your annual salary


The size of your life insurance policy should revolve around your family's needs, and not some one-size-fits-all false notion. While a policy worth twice your annual salary may work for an older couple who has little debt, young families may need significantly more coverage as they raise children and pay off student debts and mortgages. Your independent insurance agent can help assess your needs.

Myth #3: The life insurance you get through work is sufficient


Some employers offer life insurance benefits to staff, which is a great workplace perk. However, it should not be used as one's only source of life insurance simply because benefits are often capped at one to two times your annual salary, which often is not enough coverage for your family. Fortunately, you can purchase your own life insurance privately to supplement what you already earn through work.

Learn more about this valuable coverage. Call Coral Financial Group at (954) 345-2600 for more information on Fort Lauderdale life insurance.
Share |


No Comments


Post a Comment
Name
Required
E-Mail
Required (Not Displayed)
Comment
Required


All comments are moderated and stripped of HTML.
Submission Validation
Required
CAPTCHA
Change the CAPTCHA codeSpeak the CAPTCHA code
 
Enter the Validation Code from above.
NOTICE: This blog and website are made available by the publisher for educational and informational purposes only. It is not be used as a substitute for competent insurance, legal, or tax advice from a licensed professional in your state. By using this blog site you understand that there is no broker client relationship between you and the blog and website publisher.
Blog Archive


View Mobile Version
Get A Quote Find An Agent Locations

Facebook