Life Insurance Myth #3: You are worth more dead than alive with life insurance

Updated: Oct 15, 2020

Today, let's talk about the "windfall" that life insurance creates.

Or rather, how it is NOT a "windfall" at all.

Insurance companies are not in the business of making people rich. They are in the business of transferring risks. And insurance companies have guidelines regarding how much a person can be insured for.

Just because you may want $5 million of coverage, does not mean that you'll qualify for it - medically OR financially.

This is a chart of the financial underwriting guidelines for one particular insurance company: