A recent survey found that consumers tend to overestimate the cost of Life insurance by three times, with almost half of Millennials overestimating the cost by five times the actual amount.¹

To put it in perspective:

• Cell phone insurance generally costs around $7 to $10 per month.² Compare the cost to that of a modest Life insurance policy. If you’re a healthy woman under 30, $100,000 in coverage may start at as little as $5/month. Yes, that’s just $60/year. And remember, unlike cell phone insurance, Life insurance is not about protecting what you have, it’s about protecting those you care about.
• Drinks, dinner for two, and a movie—whether you’ve been married for years or you’re on a first date—averages $160.³ Consider that a healthy male in his 50’s can purchase $500,000 of Life insurance for under $100 per month.  Sure, you need to take time to enjoy life, but this puts it in perspective. Could you sacrifice one night out a month to protect your family’s financial future?
• The average cost for a ticket to a theme park is $75.⁴ And that’s not including transportation, lodging and meals. A healthy 39-year-old woman could purchase $1 million of coverage for under $400 per year, less than the cost of that amusement park outing for a family of five.
•  A standard Netflix plan costs between $15 and $20 per month⁵ which is twice the monthly premium of just under $10 for a healthy 45-year old man for $100,000 of coverage.

Life insurance costs less than you probably think. Take a few minutes to do your research, and you’ll be surprised at just how affordable coverage can really be.

¹2023 Insurance Barometer Study, Life Happens and LIMRA.
²“Cell Phone Insurance,” https://www.benzinga.com/,July 2023
³“Can’t Buy Me Love: The Average Date in America Costs $159,”/www,moneygeek.com/, February, 2023.
⁴“The Most Affordable Amusement Parks in the U.S..” www.travelandleisure.com/, April 2022.
⁵Netflix.com, 2023.