Common Mistakes People Make When Buying Life Insurance
Life insurance is one of the most important financial tools you can buy—but it’s also one of the most misunderstood. Many people make costly mistakes when buying a policy, either by overpaying, underinsuring, or selecting the wrong type of coverage. The good news? These errors are avoidable with the right guidance and education.
One of the most common mistakes is waiting too long to apply. Life insurance premiums increase with age, and unexpected health changes can limit your options. Buying early ensures lower costs and greater flexibility. Another common misstep is relying solely on employer-provided group coverage, which usually isn’t portable or sufficient for long-term needs.
Others underestimate how much coverage they need—focusing only on funeral costs instead of replacing income, paying off debt, or funding college tuition. Some choose term when they need permanent, and others choose permanent when term would have worked just fine.
At Diversified Insurance Brokers, we help individuals and families compare over 75 top-rated carriers to find the best type and amount of coverage for their specific goals. We also explain every detail so you’re not stuck with hidden fees, surprise lapses, or policies you don’t understand.
👉 Visit our About Us page here to learn how we help people get life insurance right the first time.
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