Category Archives: Term Life Insurance

3 Life Insurance Myths That Could Hurt Young Families

When you’re just starting out, it often seems that a dollar never stretches far enough. And with new commitments, such as buying your first home or having children, comes the responsibility to make sure your loved ones will be provided for financially, no matter what life may bring.

10 Everyday Things That Cost More Than Term Life Insurance

Adults and parents worry. We worry about our family’s health, safety, financial security and future. But more families need to put their money where their heart is by buying term life insurance. However, the issue isn’t a matter of hypocrisy, but a lack of research and financial literacy. According to a Life Happens and LIMRA study from this year, 65% of households have not purchased life insurance because they think it’s too costly.

To show that this is a common misconception, the group asked Americans to estimate the cost of a 20-year, $250,000 level term life policy for a healthy 30-year-old male. Eight in 10 people overestimated the cost, saying it would $400 a year, which is more than double its actual cost of about $160 a year or about $13 a month. Astonishingly, one in four thought it would cost more than $1,000 a year.

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