by Noelle Kauffman, Director of Sales
(CA License No: 0H45598)
OCTOBER HIGHLIGHT
Life Insurance Facts and Statistics
Achieve Your Best Life: Discover the Lifelong Security of the Perfect Insurance Plan
Noelle’s Insurance Insights
Understanding life insurance is crucial for effective financial planning, yet many people fall prey to common life insurance misconceptions. Let’s debunk some myths to help you recognize the true benefits of life insurance.
1. ‘Life Insurance Is Only for Older People’
The Reality: Contrary to popular belief, life insurance is advantageous for young adults, not just older individuals or those with dependents. Many young adults carry financial burdens like student loans or mortgages that could impose a burden on loved ones if left unpaid. Opting for life insurance at a younger age can lock in lower premiums and easier approval due to fewer health concerns, positioning it as a smart choice for those thinking ahead.
2. ‘I Don’t Need Life Insurance If I’m Single’
The Reality: Single individuals can indeed benefit from life insurance, even without direct dependents. It covers funeral expenses, pays off debts, and can provide financial support to aging parents or siblings. Additionally, it can be a way to contribute to a cause you care about or leave a meaningful legacy.
3. ‘My Employer’s Life Insurance Is Enough’
The Reality: Employer-sponsored life insurance often offers limited coverage, typically only a multiple of your salary, which might not cover all financial needs. Moreover, this insurance is generally not portable, meaning you lose it if you change jobs. Evaluating your personal life insurance needs and considering supplemental coverage is vital for comprehensive financial security.
4. ‘I Don’t Need Life Insurance If I Have Savings’
The Reality: While savings are essential, they may not fully cover all expenses like mortgage payments, education costs and funeral expenses after a person’s death. Life insurance provides a financial safety net, delivering immediate support that savings might not offer in terms of timing and liquidity, ensuring your dependents are financially secure.
5. ‘I’m Healthy, So I Don’t Need Life Insurance’
The Reality: Many healthy individuals postpone purchasing life insurance, assuming they can do so later without issue. However, unexpected health changes can lead to higher premiums or even disqualification. Securing life insurance while in good health ensures lower rates and peace of mind against future uncertainties.
6. ‘I Don’t Need Life Insurance If I’m Not the Primary Earner’
The Reality: Non-earning partners contribute significantly through homemaking or caregiving, holding substantial economic value. Life insurance can help cover the cost of replacing these contributions, such as hiring childcare or household management assistance, ensuring surviving family members remain financially stable.
By addressing these life insurance misconceptions, individuals can better understand the benefits of life insurance and its vital role in financial planning. This proactive approach provides financial security and peace of mind for both you and your loved ones.
To explore life insurance options, interested individuals can contact
help@employeesclub.com or call (800) 464-0452 Ext. 4.
For RETIREES OR Those About to Retire
The Club is here to guide you through the retirement planning process every step of the way!
If you plan to retire soon or are newly Retired, you have access to attend a retirement planning party with Club Retiree Specialist Counselors that will set you up for success in retirement.
We will be reviewing topics including pension deduction, Retiree Life Insurance, Retiree Legal Insurance, the Club’s Retiree Mentorship Program, our Retiree Recognition Awards, and other valuable Club benefits.
The Club strives to make your transfer from active to Retired as easy as possible by guiding you through the processes; educating you on new, important topics; and welcoming you to our Club Retiree Community.
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Attend a Retirement Planning Party!
Meet Your Club Counselors!
Protect Yourself and Your Family with These Benefits Available Through the Club:
- Life Insurance: Take the burden off your loved ones
- Critical Illness and Cancer Insurance: Provide financial security
- Accident Insurance: Ensure your peace of mind
- MetLife Legal Insurance: Access legal help when you need it
- Pet Insurance: Cover your furry friend’s health
Update your benefits and get all of your questions answered by booking a one on
one or group presentation appointment with your colleagues at your job site.
Email help@employeesclub.com to request a Counselor visit today!
LACEA Insurance Services, Inc. (Employees Club of California) is a licensed insurance agency offering insurance benefits to qualified Club members. The Club’s CA DOI Lic. is #0B98000.
