Life Insurance

Life insurance is an incredibly misunderstood product. You may have certain ideas about what it’s for and what kind to buy. Check the facts below to see if your knowledge of life insurance is as good as you think.

 

Myth: You only need term insurance.

Fact: Most people want to have at least some insurance past an age or time when they are still insurable. While term insurance is cheap when you’re young, the older you get, the less chance that term insurance will even be available to you, and if so, if it will even be affordable.

 

Myth: You can avoid buying permanent insurance if you buy term and invest the difference.

Fact: Almost no one has the discipline to actually follow through on the amount of dedicated savings that would be needed to meet the current interest rates offered by life insurance companies for their permanent products.

 

Myth: I only need insurance until I retire.

Fact: Most people don’t retire and then would feel good about leaving their spouse and children $0 if they died. You can adjust how much you leave your family, which is to say, if you have certain kinds of permanent insurance, you can make it worth for any time of life.

 

Myth: I’m a stay-at-home mom, I don’t need life insurance.

Fact: Replacing the responsibilities of most stay-at-home moms is expensive. Who’s going to shuttle the kids around, do the laundry, shop for groceries, etc.? If it’s a nanny, you’re going to be worth whatever a nanny would cost times the number of years you need to be supplying those “services” to your family. That’s worth a lot!

Is your lifestyle protected?

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CCI Advisors, Inc.

610.668.8200
610.924.7240 fax

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Office Locations

101 Lindenwood Drive, Suite 225
Malvern, PA 19355

Radnor Financial Center
150 N. Radnor Chester Rd., Suite F 200
Radnor, PA 19087

Two Bala Plaza, Suite 300
Bala Cynwyd, PA 19004

600 West Germantown Pike
Plymouth Meeting Exec. Campus, Ste 400
Plymouth Meeting, PA 19462

1515 Market Street, Suite 1200
Philadelphia, PA 19102

10,000 Lincoln Drive East
One Greentree Centre, Suite 201
Marlton, NJ 08053

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2 Maude Circle
Paoli, PA 19301

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