At Jason Ridley Agency, serving the greater Colleyville, TX region, we often hear myths about life insurance. We assist in clearing up any misconceptions. 

Here are some common myths and the facts to counter:

Myth 1: I Don’t Have Kids, So I Don’t Need Life Insurance

Life insurance is a good idea for many people, not only those with children. Essentially, if you have anyone who depends on your income, you need life insurance. You should also consider a policy if you have debts that you don’t want to leave for loved ones. 

Myth 2: I’m Young and Healthy, I Don’t Need Life Insurance

Unfortunately, the unexpected happens. Your risk does go up as you age and as you develop health conditions. However, this means that the best time to buy a life insurance policy is when you are young and healthy because your premiums will be lower. 

Myth 3: Most Americans Have Enough Life Insurance

The number of Americans who say they don’t have enough life insurance has doubled since 2010. Many Americans don’t have enough life insurance, and they may not even be aware of the gap. 

Experts recommend that you have ten times your annual income in insurance at the minimum. It’s also a great idea to consider your dependents and any debt you have, which will add to the amount you need. 

Myth 4: I Have Enough Life Insurance Through My Employer

Many people have a life insurance policy through their employer. While this is a good idea, it’s often not enough coverage. The standard for employer policies is $100,000, far below what the average person needs. 

Another problem with relying solely on an employer policy is that you may lose your coverage if you stop working there. This can leave you scrambling for a policy later on when the premiums will be more expensive. 

Reach Out To Us

If you need life insurance in Colleyville, TX, contact us at Jason Ridley Agency. We have life insurance options to ensure that you and your family are prepared for the unexpected.