Is burial insurance worth it? I have been an Insurance professional for over 19 years. My Mom was an agent since 1982. The reason I put those blocks of time in this article is to say this- There are still people that don’t have life insurance and people who are offered the chance to get life insurance but still don’t get it. I apologize for this “rant” Why? I guess there are a number of reasons. I think people have good intentions. in my practice, I have made phone calls and people have hung up on me. People have yelled at me. People have said they were going to buy insurance on a certain day and I would call them back and they would not pick up the phone or they would put me off to another day. Some people would say they have to check with their wife their son their daughter.
Whenever I called different prospects or visit them at their house, I was not rude to them or just respectful. I wrote all this to say this that many people need life insurance but they don’t always get it. If you are the leader of the family and especially if you have children and debts to pay, it goes without saying that you need life insurance unless you are independently wealthy. There are many insurance agents that will consult on your behalf in order to get insured. There are many types of life insurance. Burial insurance will be a security for the family in case of death and eminent funeral costs. In this article, I will list 10 reasons or to be more precise 10 excuses that people make who don’t buy life insurance.
Reason / Excuses why people don’t get life insurance
There may be any other reason but the following are the 10 main reasons according to my knowledge why people make excuses.
- No Financial Pressure:
Most of the people at some point in their lives have to borrow money or to take a loan from the bank in order to purchase a vehicle or buy a house. Some may start a small business. People who don’t buy life insurance generally, make the most common excuse that they don’t owe anyone any money. They may be wealthy or may have family members or friends that are wealthy and may think the cost of a funeral or even cremation is not their responsibility. even if you are wealthy most of the wealthy people that I know still purchase life insurance. Why? Because it’s cheaper to pay an insurance company to bury you than it is taking the full amount for your burial service out of your own pocket. I am sorry to have to write this but if you are a responsible person, you should not put the burden of paying for your funeral on somebody else. This is sad to say but some men I know still don’t think it is their responsibility to pay for their own funeral.
- Life Insurance is expensive
There are many insurance providers that offer low rates. at the time of this writing life insurance is easier and it cost less now in the last 19 years I have been an agent. If you are on a fixed income, I do empathize with you. With that said, I try to work with my clients to reach the lowest cost life insurance that they need. I am not an agent that will try to sell someone a life insurance policy that is not based on their needs. This means if they only need $10,000 and can only afford $10,000, I will not try to get them to purchase a more costly life insurance policy.
- Lack of Trust / Fear of Scam:
First of all, let me say this. I hate that there are scams in any business, especially when buying burial insurance. Let me give you some tips to help you not get taken advantage of when you’re talking about life insurance. If you have someone that calls you, I would ask them for their insurance license number and also ask what company they are representing. You can also ask the insurance commissioner of the state you are in to see if they have an actual insurance license. Most of the time when I say so life or health insurance nowadays I am selling it by phone. I will give someone my license number and tell them what company I am representing.
Some people make the excuse that they are single and don’t have any family to support and are independent so why would we buy life insurance if we don’t have any family and don’t have any pending bank loan, no business or property that will liquidate after the death. These bachelors are in majority who don’t go for life insurance. They say that if they buy life insurance it can only add an extra cost and it will not benefit them as they don’t have any family to support or any pending debts.
- Wealthy People:
Rich people who have successful businesses that are at their peak and have millions of dollars in their bank account make the excuse not to purchase life insurance. They say they don’t need any insurance and their assets and business will not liquidate as they have people and qualified team who can take care of their business after death. They have a lot of money in their bank accounts to pay any pending legal charges and any tax payable. These people don’t really need life insurance due to their wealth.
Lack of Guidance:
Some people don’t know how much life insurance they need. They are unable to make a decision with conviction as thinking they might buy the insurance that is not enough. They don’t consult anyone about life insurance. They have friends who say something like this- “You don’t really need life insurance unless you have a family” Or “you are not old enough yet to be concerned about life insurance” The point is there are a million excuses.
- Unpleasantness and Uncomfortableness:
When the people are asked to do worry about the end of life planning most of them chose to do nothing because such thoughts make them feel unpleasant and uncomfortable. So these people won’t go for life insurance as they feel uncomfortable about the discussion of death. In order to resolve it, they need proper guidance and let them know the importance of life insurance in order to support the family at the time of financial crises after their death.
- Government Support:
Most of the government employees also don’t go for life insurance as they get a fixed amount of pension and EOBI from the government, they usually gave the reason that they worked for the government and it their right and government obligation to support them in the hours of need so they get the fixed amount of pension out of which they made saving and their spouses also get the fixed pension amount from the government and it will be enough for their family to pay any overdue charges and help their family in supporting them, So majority of government employees don’t buy the life insurance as they will get the support in the shape of pension and EOBI from their government whom they served for years.
- Good Health:
When I write about this good health is definitely a great thing. Some people have made the remark that “if you have your health you have everything” Some young people make the excuse that they are healthy and sound and they want themselves to enjoy life at its fullest and say that death seems so far away and feel invincible. I certainly did when I was young. So being young is good but you should make some measures of security for yourself and for your family to give them financial support after your death.
. Can’t make a decision
Listen I get it. Sometimes it is hard to make a decision. You may overthink it. You may still have questions. I like many other agents are told things like this. Let me think about it. Let me check with my spouse, son or daughter and I will call you back or call me back in a week or so. I know some agents say when it comes to getting life insurance what is there to think about? We are not going to live forever. So people need to realize they DO need life insurance. If we are not going to die there would be no need for this type of policy.
This may sound cruel. I have met so many people that do not have life insurance. Also, those people have families. How can you be the leader of a household and not have life insurance? You can’t afford it? Please start somewhere and build from that. Poor health? That is a barrier but there are policies that will cover you even with the dreaded diseases like AIDS, Lou Gehrig’s disease.
So the reasons listed above are the main cause why the people don’t get life insurance and those are some of the excuses that people make when someone asked them to buy a life insurance policy. The purpose of life insurance is to secure the future of their loved ones. There is burial insurance for seniors over 75 available. You are also not too old. There is life insurance over 80 years of age. In closing, I hope this article was not offensive to anyone.
So it seems that everyone has his reason not to buy the insurance and some of them are quite firm in their excuse as the rich people having millions of dollars in their bank accounts don’t need the insurance at all, but in some case, it benefits them as well if their death their company or their businesses go in liquidation then this insurance money will help their family to face the financial pressure. But there are some cases where proper guidance is necessary as young people wants to enjoy the life says that death seems to be far away proper guidance in this case from the insurance provider helps then in understand the importance of life insurance and as far as the case of people who think that the insurance providers offer high rates the proper consultation with the insurer help to overcome this excuse as they will let them know about the cheap and easy installment packages for those people who are really in need of this life insurance. In order to let the people build trust with the insurance providers, the regulatory bodies need to get active and check the license of every insurance provider in the town letting the people know which of them are the legit insurance providers and hence preventing scams.
So the life insurance is very important to help the insurer to provide security for their family member after his death as it will help them in any unfavorable condition of financial crises and to not burden them with his own expenses as this insurance will be used to pay any outstanding bills and any tax charges being payable by the departed. But there is a need for right guidance and to provide the right knowledge of Life insurance to the people especially to those people who are supporting their families and are the only ones making money in the whole family. They should also need to study about the benefits that the life insurance offer so that it will change their minds and let them think about the Life insurance and studying with the detail about this topic surely help them to rethink about the decision. Overaged people need special guidance in the case to buy the insurance in order to help them support their families after their death.
So in my opinion life insurance is an excellent tool for the people with the families as it carry variety of benefits for the insurer as some of them also provides the premium amount with the insurance amount which is an excellent remedy in moment of sorrow and grief for the family of departed one letting the carry on with their life without thinking about any financial crises as the life insurance amount will be used to pay all the dues and any debt owed by the departed to anyone or to any bank.
My name is Mitch Winstead. from Advanced Mutual Group. Our toll-free number is 866-598-8170 or 910-452-1922 Our email is firstname.lastname@example.org All of our life insurance policies are state-regulated and approved by the Insurance Commissioner. If you want life insurance quotes, you are under no obligation to buy. Everyone qualifies for a life insurance policy no matter what their health status is. You may have questions like what does life insurance cover? Call us today for any questions you have and to get a quote with no obligations. Our website is www.advancedmutualgroup.com