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When you live in Wayzata, Minnesota, having a life insurance policy is important. You don’t want to believe all of the myths that you hear because it can lead you into purchasing a policy that has insufficient coverage.
There are plenty of myths out there, and no one is quite sure as to where they got started. Sometimes it is because people purchase a policy without truly knowing anything about what it is that they are buying. Not all agents are honest and therefore they will say anything in order to sell someone a policy.
For example, there is the myth about 95% of life insurance policies never paying out. This is only true of term life and that is because people need to “guess” at how long they are going to live. Coverage options range from 5 to 30 years.
While term is the most affordable option for life insurance, you can also look at whole and universal life. These can provide cash values that can be used later in life, such as being able to afford your retirement years.
Some life insurance facts that you need to be aware of that surfaced as a result of myths include:
- You can be any age to get a life insurance policy
- Poor health does not exclude you from getting a policy
- Multiple quotes should be obtained in order to compare pricing
Knowing more about life insurance as a whole will make it easier for you to get a policy that you can rely on.
Call us at Pizano Insurance today to learn more about your life insurance options. We are here to help you however we can, including answering questions that you may have about coverage and obtaining quotes from some of the best insurance companies that write policies in Minnesota.