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Why do people research life insurance too much?

In my many years of selling life insurance, I have found that some people don’t buy the coverage they need because they research the product to death. They will shop, shop, shop, shop, until they drop, drop, drop – and end up with no policy.

Why do they do this? I can think of three reasons:

  1. They feel that they have to be a master of the product. Maybe they have that type of “nerdy” personality They have to know everything about it – and about all the types of life insurance there are. Of course, they often totally confuse themselves.
  2. This brings up reason #2: they don’t trust brokers and advisers. Maybe they had a bad experience working with a professional before. Maybe they are gunshy about starting over again with someone new, however well-recommended. It’s hard to take a risk once you have been burned.
  3. And we have reason #3: they really don’t want life insurance. They think they should have it, or someone said they should. So they go through all the motions of doing their due diligence and exploring every option, so they could at least say they gave it a try; but deep down, they are not ready to contemplate their own demise, and plan accordingly.

Can you think of any other reasons, from your own experience, or with someone you know?