• Home
  • Economics
    • Scarcity
    • Opportunity Cost
    • Goods and services
    • Market and economic systems
    • Economy
    • Production
    • Factors of production
    • Production function
    • Equilibrium
    • Economies of scale
    • Economies of scope
    • Efficiency
    • Productivity
    • Comparative advantage
  • Microeconomics
    • Utility
    • Supply and demand
    • Elasticity
    • Economic surplus
    • Consumer surplus
    • Producer surplus
    • Market failure
    • Market structure
  • Macroeconomics
    • GDP
    • Economics GDP Formula
    • GNP Formula
    • NDP
    • National income
    • Disposable income
    • Aggregate demand
    • Aggregate supply
    • Unemployment
    • Inflation
    • Interest rate
    • Business cycle
    • Central bank
    • Investment
  • Guest Post
Monday, June 23, 2025
  • Login
EconGuru
  • Business
    • All
    • Accounting
    • Entrepreneurship
    • Management
    • Marketing
    • MBA
    Guest Experiences at hotel

    Exceeding Expectations: How Offering Unique Guest Experiences Can Drive Hotel Revenue

    Understanding Performance Reporting for Your Company

    Easy Ways to Ramp Up Security for Your Small Business

    3 Things You Should Know Before You Start a Web Design Firm

    5 Ways to Make Money When You Are Disabled

    5 Business Ideas You Can Run From Anywhere In The World

    5 Best Books to Learn Stocks Trading: Study for Successful Investing

    6 Best Real Estate Books to Get You a Solid Education In Real Estate Investing

    Must-Read 5 Best Business Books For Men And Women Who Love Success!

  • Economics
    • All
    • Basic Economic Concepts
    • Economic Data
    • Economic Mathematics
    • Economics Diagrams
    • Economics Education and Careers
    • Environmental Economics
    • International Economics
    • Macroeconomics
    • Microeconomics
    Crypto Fomo and Panic Selling

    Avoiding Crypto FOMO and Panic Selling: Emotional Control in Crypto Investing

    bitcoin trading

    How to Trade Bitcoin with Only $100 for Beginners: A Complete Guide

    this image describes bear vs bull market.

    Bull vs. Bear Market: 8 Key Indicators to Watch in Crypto Markets

    How to Study for an Economics Exam

    Top 100 Dataset Websites & Sources for 2021

    “Capital in the Twenty-First Century” – a comprehensive master piece on world Economy and the reign of inequality

    Freakonomics: a book for unconventional thinkers and practical millenial economist

    Is the Study of Economics Truly a Science?

    What is Your Contribution to National Income?

    Trending Tags

    • Finance
      • All
      • Basic Financial Concepts
      • Corporate Finance
      • Personal Finance
      Crypto Fomo and Panic Selling

      Avoiding Crypto FOMO and Panic Selling: Emotional Control in Crypto Investing

      bitcoin trading

      How to Trade Bitcoin with Only $100 for Beginners: A Complete Guide

      this image describes bear vs bull market.

      Bull vs. Bear Market: 8 Key Indicators to Watch in Crypto Markets

      decentralised finance defi

      10 Best Tips for Choosing the Right DeFi Platform

      bitcoin

      5 Factors That Affect Bitcoin Prices and Volatility in the Financial Markets

      corporate event speaker

      How To Attract Industry Experts To Speak At Your Next Corporate Event

      Best 4 Personal Finance Software on Amazon

      The best invoicing softwares for small businesses

      5 Best Invoicing Software for Small Businesses

      Cryptocurrency: In Light of the Increased Volatility, Is It Worth the Risk?

      Trending Tags

      • Insurance
      • Investing
      • World
        • Markets & Industries
        • Public Economics & Finance
      No Result
      View All Result
      Write for Us
      EconGuru
      • Business
        • All
        • Accounting
        • Entrepreneurship
        • Management
        • Marketing
        • MBA
        Guest Experiences at hotel

        Exceeding Expectations: How Offering Unique Guest Experiences Can Drive Hotel Revenue

        Understanding Performance Reporting for Your Company

        Easy Ways to Ramp Up Security for Your Small Business

        3 Things You Should Know Before You Start a Web Design Firm

        5 Ways to Make Money When You Are Disabled

        5 Business Ideas You Can Run From Anywhere In The World

        5 Best Books to Learn Stocks Trading: Study for Successful Investing

        6 Best Real Estate Books to Get You a Solid Education In Real Estate Investing

        Must-Read 5 Best Business Books For Men And Women Who Love Success!

      • Economics
        • All
        • Basic Economic Concepts
        • Economic Data
        • Economic Mathematics
        • Economics Diagrams
        • Economics Education and Careers
        • Environmental Economics
        • International Economics
        • Macroeconomics
        • Microeconomics
        Crypto Fomo and Panic Selling

        Avoiding Crypto FOMO and Panic Selling: Emotional Control in Crypto Investing

        bitcoin trading

        How to Trade Bitcoin with Only $100 for Beginners: A Complete Guide

        this image describes bear vs bull market.

        Bull vs. Bear Market: 8 Key Indicators to Watch in Crypto Markets

        How to Study for an Economics Exam

        Top 100 Dataset Websites & Sources for 2021

        “Capital in the Twenty-First Century” – a comprehensive master piece on world Economy and the reign of inequality

        Freakonomics: a book for unconventional thinkers and practical millenial economist

        Is the Study of Economics Truly a Science?

        What is Your Contribution to National Income?

        Trending Tags

        • Finance
          • All
          • Basic Financial Concepts
          • Corporate Finance
          • Personal Finance
          Crypto Fomo and Panic Selling

          Avoiding Crypto FOMO and Panic Selling: Emotional Control in Crypto Investing

          bitcoin trading

          How to Trade Bitcoin with Only $100 for Beginners: A Complete Guide

          this image describes bear vs bull market.

          Bull vs. Bear Market: 8 Key Indicators to Watch in Crypto Markets

          decentralised finance defi

          10 Best Tips for Choosing the Right DeFi Platform

          bitcoin

          5 Factors That Affect Bitcoin Prices and Volatility in the Financial Markets

          corporate event speaker

          How To Attract Industry Experts To Speak At Your Next Corporate Event

          Best 4 Personal Finance Software on Amazon

          The best invoicing softwares for small businesses

          5 Best Invoicing Software for Small Businesses

          Cryptocurrency: In Light of the Increased Volatility, Is It Worth the Risk?

          Trending Tags

          • Insurance
          • Investing
          • World
            • Markets & Industries
            • Public Economics & Finance
          No Result
          View All Result
          EconGuru
          No Result
          View All Result

          Home Index Finance Personal Finance What are the Biggest Mistakes that People Make When Choosing Life Insurance?

          What are the Biggest Mistakes that People Make When Choosing Life Insurance?

          Anthony Carter by Anthony Carter
          January 28, 2011
          in Insurance, Personal Finance
          0 0
          A A
          0
          Share on FacebookShare on TwitterShare on LinkedinShare on RedditShare on WhatsappShare by Email

          Choosing to purchase life insurance is a great way to protect your family should anything happen to you. Of course, most of us want to think too much about not being around, but knowing that those we love are going to be taken care of can be reassuring. While getting life insurance is often a wise move there are mistakes that people can make when choosing this type of policy.

          The Biggest Mistakes that People Make When Choosing Life Insurance

          You might also like

          Best 4 Personal Finance Software on Amazon

          October 12, 2022
          debt collectors

          4 Things You Should Do if You’re Being Harassed by Debt Collectors

          August 4, 2022

          Here are just some of the mistakes that people make with this type of policy:

          • Buying the cheapest life insurance you can find is not usually the best way of going about things. While buying a cheap insurance policy might provide a false sense of security it might mean that your family will struggle should they ever need to make a claim. You need to ensure that you have the right type of policy; for example if you choose a term insurance this will only cover you for the duration of the term. If you do decide to get a short term type of coverage you might want to ensure that it has a convertible option so that you can change to permanent insurance at a later date.
          • Missing payments or paying late is a gamble that you want to avoid. If something happens and payments are missed then this could have serious implications for the ability to claim on the policy. Make sure you fully understand the policy terms in regards to late/missed payments.
          • A big mistake that people make is buying into a life insurance policy without fully understanding the terms. Some policies will have restrictions on what type of deaths are covered and you will need to be clear about this. There can also be other clauses in an insurance policy which make them a poor option for life insurance coverage.
          • Another thing worth considering is disability coverage as this is a choice with a lot of life insurance policies. It isn’t just your death that can leave your family without a breadwinner; it could also occur due to a disability. It is worth paying attention to this disability coverage to ensure that it is going to be enough.
          • A lot of people end up choosing the wrong coverage amount. Just arranging for enough to provide an income for your dependents might not be enough; there are also funeral costs and mortgage payments to consider. It is generally recommended that you consider carefully the amount your family is going to need to survive if you are no longer able to support them.
          • It may be possible to borrow money from your policy, and sometimes this can be a good way to raise money — you policy will have a cash value. You will also need to be careful though because this could mean that the policy runs out of money and there will be nothing there for your dependents afterwards.
          Tags: insuranceinsurance policylife insurancelife insurance coveragelife insurance policypolicyterm insurance
          Previous Post

          Top 5 Best Finance Management Books Reviewed

          Next Post

          Top 5 Best Financial Investment Books Reviewed

          Anthony Carter

          Anthony Carter

          Anthony Carter currently resides in Fife, Scotland with his wife Lisa, and their three wonderful children. As a senior editor for various publications, if he's not reading and writing, you would find him photographing and traveling to some of the most far-flung locations around the world.

          Related Stories

          Best 4 Personal Finance Software on Amazon

          by sporta
          October 12, 2022
          0

          Having to spend precious time manually tracking your personal finances. Tired of spending hours to find out where your money...

          debt collectors

          4 Things You Should Do if You’re Being Harassed by Debt Collectors

          by Arya Miller
          August 4, 2022
          0

          No matter how much money you owe, you should know that you have rights against debt collectors, and they have...

          What Should I Ask a Photo Booth Vendor Before Booking?

          by Arya Miller
          April 28, 2021
          0

          One question many people ask when it comes to a photo booth rental is if it is worth the investment. After being...

          6 Basic Components of Car Insurance Policy

          by Arya Miller
          October 9, 2020
          0

          Car insurance is essential for every vehicle. When thinking of purchasing one, you have to know what it consists of....

          Next Post

          Top 5 Best Financial Investment Books Reviewed

          What is EconGuru?

          EconGuru

          EconGuru was founded in 2006 by a group of Economics students who are passionate about learning and sharing everything in Economics, Finance, and Business.

          The mission is to improve economic and financial literacy of the general public so people can better understand and react to economic problems and make good financial decisions.

          We have no social profiles on any network, and if you like us, bookmark EconGuru.com or share us with your friends.

          Textbooks

          • Intro to Economics
          • Firms & Industrial Structure
          • Fundamentals of Ecology
          • Economics
          • Macroeconomics
          • Microeconomics
          • Useful Links

          © 2006 - 2022 EconGuru - Your premium guide for Economics, Finance, and Business. Privacy

          Welcome Back!

          Login to your account below

          Forgotten Password?

          Retrieve your password

          Please enter your username or email address to reset your password.

          Log In
          No Result
          View All Result
          Write for Us
          • Banking
          • Books & Textbooks
          • Business
            • Accounting
            • Entrepreneurship
            • Management
            • Marketing
            • MBA
          • EconGuru
          • Economics
            • Concepts
            • Microeconomics
            • Macroeconomics
            • Economic Data
            • Economic Mathematics
            • Economics Diagrams
            • Education and Careers
            • Environmental Economics
            • International Economics
          • Finance
            • Concepts
            • Corporate Finance
            • Personal Finance
          • History of Economics
            • Economists
          • Insurance
          • Investing
          • Markets & Industries
          • Public Economics & Finance
          • World Economy
          • Login

          © 2006 - 2022 EconGuru - Your premium guide for Economics, Finance, and Business. Privacy

          Are you sure want to unlock this post?
          Unlock left : 0
          Are you sure want to cancel subscription?