WFG: Protecting Families
WFG believes in the importance of protecting families. More accurately, the company believes in the importance of family members protecting one another. World Financial Group believes that life insurance offers spouses and parents with great ways to do precisely that. The company is devoted to the cause of life insurance, and while different circumstances may call for different kinds of protection, no family should fail to consider the different insurance options that exist.
Information about life insurance is readily available, but there are also many myths and rumors. World Financial Group reviews life insurance information on a regular basis. The company is happy to provide information that is accurate and helpful to families seeking the best protection for them. This makes the process of insurance selection a little easier.
What follows are a few common myths about life insurance. There are also some facts to debunk these myths. What is important, above all, is that families think about what would happen in the event of a tragedy, and that they seek to protect themselves as best as possible.
Myth #1: X Amount of Dollars Is Surely Enough!
You can fill in the X with any sum you choose. Most commonly, one million dollars is upheld as the ideal life insurance amount. Of course, every family must eventually settle on an amount that is right for them. However, you should remain careful and vigilant about the amount you choose.
Suppose youchoose a million dollars. That may seem like a lot of money for your spouse to have should something happen to you. That may also average out to only $40,000 per year. That’s barely enough to meet expenses for many! If your goal is for your spouse to never work again, this amount may not suffice!
If you have children as well, you may need more than a modest amount. Do you have youngsters, for whom you would like to provide a college education? Higher education is becoming more and more expensive every day. Simply make sure you consider all of these potential expenses, as you seek the life insurance policy that’s best for your needs.
Myth #2: You Can Always Purchase Additional Coverage!
This may prove true in theory, but in actuality, many Americans will find themselves much less eligible for life insurance as the years go by. Think about the risks that are out there; diabetes, cancer, kidney disease, and heart disease are all rather common among Americans, especially as they age. Any one of them could leave you unable to easily obtain life coverage!
This is not meant to sound alarmist, or pessimistic. It is important to stay realistic about these matters, though. Remember that, in thirty years, you are probably not going to love your spouse less than you do now, nor will you love your kids less. You will still want to provide for them. It’s important not to wait until you are no longer able to do so!
Myth #3: All Life Insurance Plans are Basically the Same.
WFG reviews life insurance news on a regular basis, and hears this rumor with surprising frequency. It is, of course, completely untrue. While WFG does not endorse any particular option, the company does encourage families to carefully consider the different plans that are out there. Remember that the cheapest plan is not always the best option for your family!
Myth #4: The Husband Needs Life Insurance, but Not the Wife.
For many families, the husband remains the breadwinner. This means that he thinks he is the one who needs life insurance, no one else. But what would happen if his spouse were to pass away unexpectedly? Is the husband going to work full time while also taking care of the kids, taking care of the house, cooking all the meals, and so on?
Maybe the wife is also a breadwinner. That just offers all the more reason for her to also consider life insurance. Should something happen to her; the family would go from two incomes to a single one. As said earlier, life insurance may not be as easily available down the road.
WFG: More Life Insurance Information
We have already discussed four of the most common myths about life insurance. Of course, this list could go on and on. There is one more myth in particular that merits discussion and commentary:
Myth #5: Single People Without Any Dependents Aren’t in Need of Life Insurance.
It is a commonly held belief that life insurance is only for married people and parents. This is untrue. Disaster can befall singles, too. Just like married couples; they can leave an awful lot of financial needs and expenses behind.
Should something tragic happen, you may end up with a great many medical and hospital bills. Should you pass away, you will have funeral expenses. You may also leave behind few assets, and a very big stack of debt.
Who will pay all of these bills? The answer, in many cases, is your family. This kind of financial burden is the last thing we wish to leave behind as our legacy to our families and friends. This is one reason why life insurance is something that even singles might consider.
More Myths About Life Insurance:
Different myths and rumors about life insurance persist. WFG says that these rumors and myths touch on a variety of topics. How much should you invest? How much coverage will you need? Which type of plan is the best? Ultimately, these are questions every person and family must answer for themselves.
World Financial Group is zealous for the cause of life insurance, and ultimately believes that considering these matters is of immense importance. WFG upholds life insurance as one good way for family members to protect one another. If you have any questions about life insurance, it is vital that you discuss them with a planner or an insurance agent. According to WFG, life insurance is a topic that merits serious contemplation.
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