- I'm single and don't have any dependents, therefore I don't need any coverage.
- I only need an amount of life insurance coverage equal to twice the amount of my annual salary.
- My term life insurance coverage at work is sufficient.
- At least the cost of my premiums will be deductible.
- I absolutely MUST have life insurance at any cost.
- I should ALWAYS buy term and invest the difference.
- Variable universal life policies are always superior to straight universal life policies over the long run because of their long-term growth potential.
- Only breadwinners need life insurance coverage.
- I should always purchase the return-of-premium (ROP) rider on any term policy.
- I'm better off investing my money than buying life insurance of any kind.
Read more: http://www.investopedia.com/articles/pf/08/life-insurance-myths.asp#ixzz22aQU3fcE
10 life insurance myths
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Owner/agent Brad Isbell is a strange person -- he actually likes to talk and blog about insurance, safety, and saving money.