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Demystifying Life Insurance: Fact vs. Fiction

What are the most common misconceptions about insurance solutions as part of financial planning? Here are the top myths dispelled for you to take advantage of ways to diversify your financial strategy.

MYTH: The medical exam for life insurance is a burden.
FACT: As a preferred Erie auto insured, you’re exclusively approved for ERIExpress Life. You can get up to $500,000 in Life Insurance with no medical exam if you are under 55 years old.

MYTH: Whole life insurance is too expensive.
FACT: Many overestimate the cost of life insurance by 3-5 times.

MYTH: Employer-sponsored offering “is enough”, so I don’t need more.
FACT: Too often and tragically, retirement, unexpected job loss and very low coverage limits leave dependents less than whole.

MYTH: A whole policy is only for when you have mortgage or dependents.
FACT: Borrow against the cash value of your whole life policy for any life milestone – real estate, business start-up, etc.