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Life Insurance Survey-How Does Your Premium Compare?

by Scott G on August 7, 2013 · 1 comment

2013 life insurance survey

Ever Wonder How Much Other People Pay for Life Insurance in 2014?

A survey conducted last year by Harris Interactive showed nearly half of those polled pay less than $50 a month for their own (not group work coverage) life insurance policy.  One of the biggest misconceptions about life insurance is that it just costs too much.  For most people this is simply not the case.   For example, a 45-year male can purchase a $250,000 term life policy on a ten-year term for as low as $18 a month.  This would be for the best health class and only $31 a month for the average health class.  If you have dependent children, a mortgage, a spouse or anyone else dependent on you or your income, life insurance is a necessity.  When you look how you can buy a policy for pennies on the dollar, life insurance should be an integral part of almost every Americans financial plan.  In fact according to the study, nearly forty percent of U.S. households have no life insurance at all.  The remaining 61% have some type of life insurance but the majority does not have enough life insurance to help their family sustain their current lifestyle.

Life insurance survey: Many lack coverage

Bottom Line

With longer life expectancies, life insurance premiums are currently near all-time lows 2014.  Do not putting off purchasing a life insurance policy because you believe it’s going to cost too much. Don’t take my word for it; use this free quoting engine to see for yourself!  Your family will thank you and you’ll have peace of mind knowing your family will be taken care of.