Life insurance is an important investment, not just for wealth accumulation but also for financial security. People take out life insurance keeping the interests of family members and dependents in mind. Even in tough times, it would be unwise to contemplate canceling your life insurance policy to save money. Those who feel that life insurance policies are unnecessary or a burden should know that life insurance is a good investment as well as a sound savings scheme. Here are some life insurance mistakes that you should avoid.

Not talking about life insurance

People generally tend not to talk about life insurance as it evokes the uncomfortable topic of death. But you have to be prudent when it comes to your finances and openly discuss life insurance with your spouse or dependents. After all, it is your duty to offer dependents financial support when you lose the capacity to earn income.
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