Term life insurance has many advantages. But understanding term life insurance and its benefits means sifting through the myths surrounding it; and there are many myths about life insurance. These life insurance myths and misconceptions can result in too little coverage causing financial hardship for families suffering the loss of a loved one.

To avoid this from happening to you, we’ve taken a look at the most common misconceptions about life insurance to set the record straight–helping you to make the right life insurance choice for you and your family.

Myth #1: I don’t work outside the home so I don’t need life insurance.

False! Just because there’s no paycheck to replace, doesn’t mean life insurance is unnecessary. A life insurance policy that provides coverage for a stay-at-home parent isn’t so much about the money they bring in to the household, but instead about the money they keep in the household.

In fact, have you ever considered how much it would cost to pay for childcare and housekeeping in the absence of a stay-at-home parent? Don’t underestimate how much this would require, child care is expensive and is a growing cost.

Myth #2: I’m young so odds are I won’t need life insurance.

Some people are gamblers by nature and choose to take their chances by skipping out on life insurance completely. Although it is unlikely you’ll die during your working years, you’re not insuring for what’s likely to happen but instead, for the worst-case scenario.

That’s why term life insurance is inexpensive for young, healthy people. Buying life insurance now means you’ll be providing financial security without spending a lot of money for it.

For example, online quotes show that a $250,000 10-year term policy for:

a healthy 35-year old woman costs as little as $165 a year
a healthy 35-year old man costs as little as $195 a year

What’s more you may even be eligible for preferred life rates that mean the annual premiums are even less! Preferred rates are lower premiums - for the same coverage - offered by an insurer based on your health. The good news is that eligibility for preferred rates is common and could save you up to 30 per cent off the standard rate.

Myth #3: If it’s really so cheap there must be a catch.

There’s no catch to term life insurance. Your basic term life insurance policy will offer you coverage so long as you pay your premium. You buy term insurance coverage for the duration of time you’ll need life insurance, whether that’s until the kids are out of school or until your mortgage is paid off.

Plus, your premiums are fixed for the length of the term. They won’t increase even if the status of your health changes.

Myth #4: I don’t need life insurance once my children are self-supporting and my mortgage is paid off.

Everybody’s insurance needs vary. But how would your spouse manage daily living expenses without your help? And what if your spouse outlived you by 10, even 20 years?

Even if your children are no longer living at home and you no longer have large debts, like a mortgage, there still are questions you should consider before deciding that life insurance is unneeded.

Myth #5: I have life insurance through my job. I don’t need any more insurance coverage.

False. The truth is your life insurance coverage through your work may not be protecting yourself and your loved ones as much as you think. Review how much your employer-paid insurance provides and calculate whether this is enough to keep your family comfortable through the difficult times if you’re not around.

What’s more, when you leave your job for any reason, including retirement, your coverage usually stops.

Myth #6: It’s such a hassle to get life insurance.

Thanks to the Internet, getting quotes is fast and easy. There are a number of online life insurance quote services and usually, all you have to do is answer a few simple questions to get quotes. Sometimes, you can even buy a policy online.

Final Fact:

From the time you marry, buy your first home, start a family and enjoy retirement, having life insurance means you and your family have the security knowing you can reach the long-term financial goals you have set out.

Life insurance policies provide you with customized coverage for your family’s needs. Comparing quotes on the Internet can help you find affordable life insurance that will protect you and your family in the years to come.

For more information on life insurance, or to get quotes, Kanetix.ca’s life insurance quote comparison service provides instant online quotes from some of Canada’s most recognized and trusted life insurance companies.

Insurance, life insurance quote

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Spend a few minutes surfing the internet and you are likely to find information regarding discount dental plans. What you may not know is how these plans work or if there is one that is right for you. The following tips will help you sort through the information that is available to you.

Most discount dental plans boast a 60-80% cost savings over regional prices for dental work. However, you will want to check into any fees that may be charged, such as memberships and deductibles for dental work and office visits. Depending upon the fees charged, the plan may or may not be a good deal.

However, there are disadvantages to these types of programs also. For example, the choices of dentists that participate in discount dental plans can be minimal. In many parts of the country, this is a concept that is just starting to catch on. Depending upon where you live, you may or may not find a dentist in your area that participates, the chance that you will find your dentist on the list is even smaller.

Be sure that your dentist participates in the plan. Do not trust what the plan is telling you are participating dentists, it is best to call your dentist personally to ask. You will want to ask your dentist the costs with and with out the plan to accurately compare prices between the two.

When you are searching for a discount dental plan it is important to establish that you are dealing with a reputable company. You want a company that has a good reputation with agencies such as the Better Business Bureau (BBB); you can check the BBB website or call your local office. You will also want to do a general search for frauds involving the plans that you are looking at, if they are involved in any kind of a fraud, you will be able to find the information you will need to avoid it.

John Mancini has been writing about Dental Plans online and offline for a long time. Visit http://my-dental-insurance.net or http://dental-insurance-info.info to read more about matters like group dental plan and family dental plans.

dental plans, discount dental plans, family dental plans, group dental plan, individual dental plan, Insurance

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When shopping for boat insurance, you may be surprised to find that there are different types of boat insurance policies available. Many insurance companies will only offer one standard watercraft liability coverage policy, while others will offer optional coverage that you can purchase. In fact, if you have financed your boat, your lender may require you to carry specific optional coverage. There are several different types of coverage that you can add to your policy.

The standard insurance is the watercraft liability insurance coverage which is required by many states. This insurance will cover you in the event that damage is caused to another person or another person’s property by actions taken with your boat - whether it is during transport or on the water. Again, many states now require this liability coverage, and each state has its own requirements as to how much liability coverage you need to have. Check with your insurance agent to find out what you are required to have.

Watercraft medical payments coverage may also be required in your state. This coverage pays the medical expenses, up to a specific amount, for you and any occupant of your boat which results from a covered accident. Even if this insurance is not required, you should definitely consider it. Medical expenses are quite high. If you think that you cannot afford this coverage, think about whether or not you could afford the medical bills you will have in the event of an accident without the coverage.

Wreck removal and pollution coverage should also be strongly considered. By law, if your vessel is wrecked or sinks, you will be required to remove it. If oil or gas leaks into the lake, river, or ocean, you will be fined - just like the big oil companies are fined when they have spills in the ocean! These fines, as well as the wreckage removal and spill cleanup can be quite expensive without this coverage. Don’t make the mistake of thinking that something like this won’t happen to you!

You should insure yourself against uninsured watercrafts as well. This works just like uninsured motorist insurance when you purchase coverage for your automobiles. If someone who does not have insurance - or adequate coverage - collides with your boat on the water, your insurance will pay for the replacement of your boat, or for the needed repairs.

Towing and assistance coverage should also be strongly considered. Getting towed back to shore often costs more than having a car towed to a garage! Especially if you are out in the middle of the ocean! You should also ask about coverage to recover your boat and protect it from further damage after a mechanical failure or an accident. These costs do indeed add up. Again, don’t make the mistake of thinking that nothing bad will happen, and don’t make the mistake of thinking that you cannot afford the coverage. If you can’t afford the coverage, you certainly won’t be able to afford these expenses!

Most insurance policies should cover your boat, the motor, and the trailer used to transport the boat. Liability coverage isn’t the only type of coverage that you need in most cases. You should make sure that you protect your boat, just as you protect your automobiles with coverage that includes theft and vandalism, as well as losses caused by storms, fire, sinking, capsizing, stranding, collision, and even explosions. Talk with your insurance agent to find out what type of insurance is required by your state and what type of coverage they offer. Also talk with your boat dealer and lender to find out what type of coverage you are required to have as well.

CopyRight Ian D. Major 2005.

Ian D. Major makes it easy to understand Boat Insurance, quickly and easily. Learn all you need to know by visiting Why You Need Boat Insurance an entirely FREE source of information about Boat Insurance.

boat insurance, full coverage boat insurance, Insurance, Watercraft Liability

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