9) Failing to learn about dividend-paying whole life policies
Whole life insurance pays you a dividend when it’s time to collect. If you need income in retirement, that can be very helpful. But most people don’t understand how whole life works and end up wasting their money on a bad policy that doesn’t pay out at all or enough. Don’t make their mistake. Learn about dividend-paying whole life policies and if they are right for you by reading our guide today.
10) Allowing financial advisors, salespeople, and family
members to pressure them into buying what isn’t right for them.
Too many people are pressured into buying a policy because they don’t have time to do their own research or because they believe it is what someone else wants. Don’t let anyone pressure you into making a life insurance purchase. Instead, take your time and look at all of your options. The right decision for you should be based on what’s best for your current situation, not anyone else’s expectations.