Life insurance is one of the most important financial tools for protecting families, yet it is also one of the most misunderstood. Many costly mistakes are not caused by lack of effort, but by incorrect assumptions, delayed decisions, or incomplete planning. Understanding the most common life insurance mistakes helps policyholders avoid gaps in coverage, unnecessary expenses, and long-term regret.
This sub-pillar focuses on the errors people most often make when buying, managing, or updating life insurance—and how those mistakes can be prevented. Each article addresses a specific misstep so readers can recognize risks early and make more informed decisions.
Articles in This Sub-Pillar
- Waiting Too Long to Buy Life Insurance
- Buying Too Little Life Insurance Coverage
- Relying Only on Employer-Provided Life Insurance
- Naming the Wrong Beneficiary
- Failing to Update Beneficiaries After Life Changes
- Letting a Policy Lapse Due to Nonpayment
- Canceling Life Insurance Without Reviewing Options
- Confusing Term and Permanent Life Insurance
- Overpaying for Life Insurance
- Choosing the Wrong Policy Length
- Ignoring Conversion Options on Term Policies
- Not Reviewing Life Insurance Regularly
- Buying Life Insurance Without Understanding the Policy
- Focusing Only on Price Instead of Coverage
- Assuming Life Insurance Is Only for Breadwinners
- Forgetting About Final Expenses
- Not Coordinating Life Insurance With Estate Planning
- Making Emotion-Based Life Insurance Decisions
- Working With the Wrong Insurance Agent
- Believing You No Longer Need Life Insurance
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