If you are an Ada, OK resident, you have probably heard several myths about life insurance. But before you decide not to buy a policy based on these myths, here at Moon – Baker Insurance Agency, we demystify for you the myths and the facts. Taking a life insurance cover is one of the most acceptable ways to protect your loved ones from the uncertainties of life. You and your loved ones will overcome any financial hurdles without any challenges.
Myth: You only benefit from the life insurance policy after the death of the insured
It is assumed that you can only benefit from a life insurance policy after the insured’s death. This is not true. There are various types of insurance policies, most of which will provide financial aid if any life assured’s eventuality. A life insurance policy will offer you a moneyback guarantee after some time or a retirement plan. It would be best if you discussed with our insurance agents at Moon – Baker Insurance Agency on all the available options for you.
Myth: Life insurance is only a tax-saving means
Policyholders will sometimes invest in a life insurance policy as a tax saving option. While it’s true that you save a lot through tax relief by holding a life insurance policy, the policy acts as a financial safety net in case of life eventualities. At Moon – Baker Insurance Agency, Inc, our policies are customized to ensure the maximum benefits from the policy.
Myth: You do not qualify for a life insurance policy if you have an existing illness
This is not the case. However, you must disclose this information to our agents at Moon – Baker Insurance Agency, Inc. This is to avoid any surprises during the claim process. The insurance agents will discuss your medical history with you, and how that impacts the premiums, you are required to pay.
Please visit our website or visit Moon – Baker Insurance Agency at Ada, OK, for further clarification on the myths about life insurance.