Top Reasons Why People Delay Buying Life Insurance and Why Not To

For many people, buying life insurance isn’t at the top of their to-do list. It may seem like a hassle, and for whatever reason, they continue to put it off. 

However, this is a major mistake. It’s basically gambling on the chance that one of a thousand little things won’t happen. It may be fairly unlikely that you’ll get into a fatal car crash or that you’ll be injured at work, but these things can happen. 

If you take the risk and lose, your family may find themselves without any form of income. SO, why would someone forego life insurance?

It’s Expensive

A lot of people think that life insurance is expensive. They may realize that they need it, but they don’t believe they can fit it into their budget. 

But, what they don’t usually consider is that it’s even more expensive for their family to try to pay for a funeral and replace lost income amounts to meet all monthly expenses if they should die unexpectedly. 

Reasonably affordable or cheap term life insurance is fairly easy to find, especially if you take some time to research your options. Just don’t take too much time—then you’re just procrastinating.

It’s Unpleasant to Think About

Some people just don’t want to deal with the idea of dying and leaving their families behind. Yes, thinking about this and putting a value on your life isn’t the most pleasant topic to contemplate, but think about the other option: your family trying to handle losing you while also trying to find the money to pay all of your monthly bills and buy everyday essentials. 

Do you want your spouse to be under the burden of immediately needing to go back to work or spending all of your savings on your funeral? Will it be possible for your family to continue their lifestyle after you’re gone? Are these questions even worse to consider than life insurance to begin with?

It’s Unnecessary

Some people justify putting off buying life insurance because they think it’s an unnecessary expense. They don’t believe they’ll need to protect their families in this way because they don’t expect to be killed on the job or in an accident. 

But, does anyone ever expect this? No.  

No one wakes up in the morning expecting to fall off a ladder, but it happens. 

Those in a high-risk industry such as security, police, fire, or who are in the military should consider what could happen to them.  And, even if you’re not in a line of work where you may get attacked, you still need to think about freak accidents or illness. They happen, and there’s no reason why they couldn’t happen to you. It’s always better to protect your family than it is to tempt fate and go without.

Life Insurance is Difficult to Understand

Finally, many people put off life insurance because they either think it’s too difficult to understand, or they don’t want to understand it.

This shouldn’t be an excuse at all. Yes, insurance does use specialized terms and can be a little difficult to understand, but the same can be said about buying a car, applying for a mortgage, or putting together a bookshelf from IKEA. 

You may have to do some research and learn about how life insurance is calculated, what exactly a term policy is, and how and when these policies pay out. But it’s not as difficult as it seems, and with the Internet, everything you need to know can be found in just a few clicks or a simple phone call to our team. 

At TERMdog, we’re not just here to sell life insurance. We’re here to educate people, so they can make informed decisions and be prepared in the event a tragedy should happen. Contact us today, so we can help you understand the ins-and-outs of life insurance, the expenses involved, and why you shouldn’t wait any longer to take this step for your family. 

Is Life Insurance Necessary for College Students?

Why TERMdog? It's Easy to See