The Facts and Myths of Life Insurance

The last couple of decades have seen a decline in the number of people obtaining life insurance policies. In fact, only 40% of American adults currently have life insurance. One of the biggest reasons for this lower number is that individuals don’t fully understand the costs and benefits. Here are some facts and myths everyone should know about life insurance.

Employer-Sponsored Life Insurance

Many think that group life insurance through one’s employer is sufficient. However, coverage is often just enough and many individuals need supplemental insurance.

Quit, and Life Insurance Goes Away

While some companies do offer to roll over coverage to a new employer’s plan or individual plan, not all do. That means if you leave your job, you won’t have life insurance.

Taxes on the Death Benefit

In most cases, you don’t pay taxes on death benefits that come from life insurance.

No Children, No Need

This is the biggest myth because some policies allow you to borrow against it to pay loans, a mortgage, and other responsibilities.

To learn more about insurance myths in the Bay Area, contact us at Lou Aggetta Insurance. We take pride in serving all of your insurance needs, come get a quote today!

Lou Aggetta Insurance, Inc.

2637 Pleasant Hill Rd
Pleasant Hill, CA 94523

(925) 945-6161 | Phone
(925) 256-7610 | Fax