Most people who have life insurance tend to believe that they have enough because what they have can take care of final bills and expenses. Too many people only possess work related life insurance and even fewer have any insurance at all. The truth is you should have a policy that can pay out close to ten times what you earn annually.
Not thinking long term
Oftentimes people think only in the short term when buying life insurance. They do not consider say, how much longer after they have passed should their family be supported by the insurance payout.
Thinking that it costs too much
One of the main complaints and reason people have for not getting life insurance is that it costs too much. But if you shop around you are likely to find a policy that suits your budget and needs.
Failure to update a policy
When certain life altering event occurs such as marriage, child birth, or divorce, then it could be time that your insurance policy is updated. Many people tend to forget to do this when these event occur.