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Myths and Facts About Life Insurance You Need to Be Educated About

Life insurance is one of the most essential insurance for individuals. There are, however, numerous myths about insurance that lead to the product of protection largely unnoticed. Here are some amazing myths and Facts About Life Insurance that you need to be aware of!

Life insurance is among the most crucial insurances that must be owned to protect yourself from financial losses arising from the possibility of dying. There are many myths about insurance circulating, which cause people to avoid insurance.

The death of a loved one is inevitable when the time is right, regardless of whether it is unknown when or what causes it. But, if the impact of losses is not recognized early, it can be a prolonged tragedy for the family.

The loss of someone you deeply loved can leave the family emotionally devastated. Additionally, it could cause financial hardship. Particularly if the person is the breadwinner in the family, it can mean that they will lose their sole source of income to sustain their daily life.

Myths and Facts About Life Insurance

Life insurance is a great way to help you avoid financial troubles and the loss that comes with death to ensure financial stability for the entire family. It also ensures the education of children and health and the possibility of living for the relatives left behind. If you have life insurance, you will have peace of mind knowing that the family’s life will be assured.

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The fact that you have life insurance doesn’t necessarily mean that you are expecting that a bad thing will occur, but it’s an expectation to ensure that there aren’t any negative consequences for your family in the near future. This is because we cannot know the exact date of death. However, we can be prepared for all the negative scenarios that may occur following.

This is the reason that’s why it’s among the most important financial plans that everyone should have, particularly for those who work and are productive in high-risk environments.

Even for those who lead in a healthy way it is possible to use life insurance as an added benefit to their way of life. It is because a person’s health does not ensure that one will not be possibility of dying.

Life insurance however is a great benefit to owners. It is, however, obscured by the myths that are created within society. Because of those myths, we are prone to overlook the value in life insurance.

Surprisingly enough, many people do not realize or are not aware of the advantages of life insurance since they don’t have any information on this. Instead of knowing the right information about the insurance they were flooded with a myriad of falsehoods.

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Are you among the people who do not realize the importance of having life insurance? Here are some truths and myths regarding insurance that can assist you in understanding why it is to be covered by life insurance

1. Insurance is for life only. protection

The Myth Insurance for life only provides benefits upon the death of the owners.

Truth: Although mainly life insurance provides death benefits, it also covers medical expenses relating to the cause of death and funeral expenses. Therefore, the insurance does not only provide reimbursement to the families that are left in the wake of a loss. The benefits go beyond what.

2. The insurance is only available to adults

Myth: Young people don’t need life insurance

The truth: The risk in life (sickness, accidents, sickness, or even death) is a possibility for anyone, even young singles. Because they have a lot of desires, young people are more likely to be burdened by debts like credit cards and many others. Having life insurance for families left behind can save all charges for debt that have to be paid.

3. The cost of insurance premiums is way too costly

The Myth Premiums for life insurance are high.

Fact Life insurance provides the cost of premiums that can be adjusted to suit your requirements. The premium can be paid each month, semester, or even year. If you don’t wish to be burdened by premium bills that never cease in the mail, you may be able to pay them in one payment.

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4. The process of claiming isn’t easy

The Myth: The process for the claim for life insurance is a bit complicated.

Sun Life Indonesia offers a simple claim procedure for life insurance. It is possible to complete it without the need to send physical documents. Through the e-Claim program, you can fill out an application form for claims and then submit documents electronically. In the year 2020 Sun Life Indonesia has paid claims from customers for the sum worth of IDR 1.7 trillion.

5. Every insurance product is the same

Myth Life insurance for all is exactly the same.

Information: Sun Life Indonesia has a range of life insurance options with unique characteristics and benefits. With the variety of options available you can pick the best suits your needs in terms of cost in terms of protection, cost, and benefits you’re looking for.

For more information about life insurance options offered by Sun Life Indonesia, visit and discover which is best for your family and you.

Do not delay in protecting yourself and your family with insurance. Make sure you plan your family’s protection through Sun Life to be better equipped to deal with an uncertain day.

Harrison Jones
Harrison Jones
Harrison has been a freelance financial reporter for the past 6 years. He knows the major trends in the financial world. Jones’ experience and useful tips help people manage their budgets wisely.


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