Why Don't People Buy Life Insurance?
Why Don't People Buy Life Insurance?
However, not all Australians have life insurance. So what drives people to take such risks? We find out.
"I don't need life insurance"
It may be true for some people. For example, if:
You don't have children; and
You don't have a spouse; and
You don't have any debts, OR
You have sufficient cash on hand to see your children supported through to adulthood.
However, the actual percentage of the population left when you subtract all the people with kids, a spouse and debts is fairly small!
"Life insurance is WAY too expensive!"
If you've started investigating life insurance rates superficially, you might have been surprised by how high it's possible for them to reach. However, just a little knowledge about life insurance rates can be a dangerous thing! If you look a little deeper, you'll realise that there is immense variability in life insurance premiums. You can do several things to get a cheaper life insurance premium:
Drop your death benefit (though be careful not to go too far!)
Stop smoking (if you are a smoker)
Lose weight and improve any health risk factors that may affect your premiums
Make sure you compare life insurance quotes from at least 4 different companies
Start early (the younger you are the better rates and options available)
Bundle your life insurance, either with income protection, trauma cover or total and permanent disablement insurance, which can give you greater coverage for a relatively small amount of additional premium; OR
Choose a policy without frills and extras
"It's all so complicated!"
Once you've done the initial research, buying a life insurance policy seems just like arranging your car insurance ... the simplest thing in the world. For those who know little about it, the mental hurdle can be difficult to jump. Start with a life insurance policy comparison site - many have excellent articles showing you how to calculate how much life insurance you need, choose between different policies and generally get a good deal! Quick Guide To Over 50 Life Insurance Solutions With Guaranteed Acceptance How To Switch To Whole Life Insurance Life Insurance goes the corporate way How to obtain life insurance when you have heart disease Missing sleep can increase life insurance rates Starting Your Career as a Property Insurance Lawyer Term Life Insurance Quotes Determine Your Life Insurance Life Insurance Is The Best Policy For Oneself Individuals Can Seek Cheap Term Life Insurance Cost To Avail Amazing Monetary Assistance Important Long Term Care Insurance Information To Know Thinking About Buying Life Insurance Properly Navigating The Market Can Bring Life Insurance Savings Honey Get The Door It's The Change In Our Term Life Insurance