Reasons Not To Own Life Insurance

Virtus Wealth financial advisors > Reasons Not To Own Life Insurance

by | Aug 24, 2022

I Have Other Financial Priorities

This is understandable, but, where do those priorities rank when there is a loss of a breadwinner?

It Is Too Expensive

Is it really? A 20-year level premium $500,000 term policy for a healthy 30-year-old is $285 per year and for a healthy 45-year-old is $645 per year. That is $24 and $54 per month.

I Don’t Feel Like I Need It

Agreed, you don’t “need” it. People do survive the loss of a breadwinner without life insurance. They may lose the house, have to work 2 jobs, kids may lack shoes, but they survived. So, you may “want” some life insurance.

I Am Unsure How Much or What Type To Buy

The amount is more important than the type. Insurance companies will permit up to 15 times your income. Yes, many policies offer more than a death benefit such as tax-free dividends, guaranteed cash values, long term care benefits, accelerated death benefits. Get the amount right first.

I Just Haven’t Gotten Around To It

So, what are you waiting for? Don’t wait until you are uninsurable? You need good health to get life insurance coverage.

You Can Do This! Your Reasons Not To Are Not That Good.

Here at Virtus Wealth Management we welcome the opportunity to offer advice on Life Insurance.  Chuck Elhoff, one of our partners is a licensed Life Insurance Counselor with over 40 years’ experience in the industry.  Life Insurance is a very valuable asset with many advantages in the areas of tax, asset protection and risk management.  If you would like to discuss this, feel free to call us at 817-717-3812.  We look forward to hearing from you!


This material contains only general descriptions and is not a solicitation to sell any insurance product or security, nor is it intended as any financial or tax advice. Guarantees are based on the claims paying ability of the issuing company.

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