Why people make excuses for not getting life insurance and why they are dead wrong.

Life insurance is not something that most people sit down and think about getting until it is usually too late in the picture for them to get it. Below are the 5 most common reasons people don’t get life insurance cover and the reasons that those excuses just don’t fly when you sit down and look at them. Protecting your lifestyle is the one thing people should never put to the bottom of their to do list.

1) “I am covered by my work.”
Life insurance provided by your work is a great benefit and at least you have something in place rather than nothing at all but most work benefits are usually limited unless they have been arranged by an insurance broker that knows what they are doing. Even more a cause for concern is that the insurance does not automatically go with you if you change jobs, which means that if you leave the company you are at for another company then you might find that the cover you have in place is null and void the moment that you walk out the door.

2) “I’m healthy.”
This is the best time to buy insurance. Because you are young and healthy your rates will be lower than if you where applying later in life, in some cases you can lock in the premiums based on the age when you took out the cover for a period of time.

3) “I’m not insurable.”
You never know until you ask and it does not cost you anything to apply for life insurance. In most cases you should be able to get some cover.

4) “It’s too expensive.”
There are many types of life insurance products available in the New Zealand insurance market, and you don’t have to take out all the options. In most cases you can get cover for literally dollars per day

5) “I’m single and don’t have children.”
However you might have debt, which is highly likely in today current environment and do you want to leave that debt behind for your parents to have to pick up. While some place will forgive the debts you might have incurred others will pursue your estate for the money they are owed.