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When it comes to getting life insurance, many people are actually apprehensive about obtaining coverage. There are a wide variety of reasons why people do not get a life insurance policy, but it is instead striking that fear and apprehension are part of the equation for so many.

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Studies have shown that about 93% of adults believe that life insurance is a necessity, yet only 63% actually have a policy. What is even more interesting is that of those who do have life insurance, roughly half are actually underinsured. So the bottom line is why getting life insurance at 75 or, frankly any age one fills some people with dread?

Why are People Skittish about Obtaining Life Insurance?

reasons why people scare to buy life insurance

The list of reasons is rather long and they are not all related in terms of what brings about the feeling of apprehension. However, some reasons are more prominent than others.

Cost: This is a rather obvious one in that life insurance policies require a monthly premium payment over their lifetimes. For some, the cost may seem too great to cover their needs. This is understandable for the policies that offer high benefits. However, there are policies that just cover funeral costs, which are often quite low and very affordable. Seniors over 90 years should obtain funeral insurance only, which is more affordable with limited coverage.

Lose the Policy: This is another fear that many people share in that they believe the policy will not actually pay the benefit because the insurance company will find some obscure clause or reason. The idea of paying into a policy for years only to not see any benefits causes trepidation in many people. While there have been some cases of insurance companies attempting to not pay the benefits, those incidents are few and far between. Plus, insurance companies can be taken to court and many have lost or paid substantial settlements. So, the fear of the insurance company not paying on an active policy has only a remote chance of coming true.

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Contemplate the Future: A life insurance policy forces a person to think about their own mortality which is not a pleasant thought. Thinking about life after you have passed away, especially for younger people is one that may seem a little morbid. However, for those who are older, getting life insurance at 75 for example is a more comfortable subject because people of that age are thinking more about their family’s needs.

Should Getting Life Insurance be a Concern?

The answer is that while the subject of what your family will do if you should pass away unexpectedly may be a touchy one, it needs to be addressed. All too often, when someone passes away and they leave behind nothing but funeral expenses and debt, it can take the family months, if not years, to recover financially.

Today, there are life insurance policies that can be tailored to the needs of you and your family. These include premiums that will fit your budget and benefits that will help your family financially in case you should pass away unexpectedly.


Meet Aaron H., a senior life insurance agent from California with 15+ years of experience. With a major in finance, excellent analytical and communication skills, and a passion for helping clients find personalized solutions, Aaron is a trusted advisor in the industry. He stays up-to-date on the latest trends and developments by attending webinars and workshops, reading industry blogs, and writing informative blog posts on this website. Aaron also has a keen understanding of SEO and online marketing, which he uses to help his clients reach a wider audience and get the coverage they need. He cherishes spending quality time with his wife, two children, and elder parents.