What people get wrong about life insurance.

"Life insurance costs way more than I could afford."

About three-quarters of adults overestimate the true cost of life insurance — younger, healthy adults often assume it costs 3 to 7 times more than it actually does, per the 2025 Insurance Barometer Study by Life Happens and LIMRA. A typical starting point for a healthy adult on a standard term policy runs well under $20/month. See our real cost vs. perceived cost breakdown for the full picture.

"I'll get coverage later, when I actually need it."

Rates are based on your age and health at the time you apply — locking in coverage earlier generally means a meaningfully lower rate for the same amount, not a reason to wait. And on the other end, "I'm already too old for this to make sense" is just as much a myth: coverage remains accessible well past your 40s and 50s, and no-exam or guaranteed issue options exist specifically for later in life.

"I don't have a spouse or kids, so life insurance doesn't apply to me."

Being single doesn't mean no one depends on you financially. Co-signed debt, aging parents, or other family members who rely on your income are common reasons single people carry coverage too.

"I already have life insurance through work — I'm covered."

Most employer group policies provide only 1–2× your annual salary — often well short of what a real coverage calculation suggests, and coverage usually ends when you leave the job. Try our coverage calculator to see how your actual number compares.

"My family will lose a big chunk of the payout to taxes."

Death benefits are generally not subject to federal income tax. Exceptions can apply in specific situations — such as interest earned on a delayed payout, or very large estates — so this isn't tax advice; check with a tax professional about your specific situation.

"There are too many options — I'll figure it out later."

Not knowing how much or what type to buy is the single most-cited reason people without a need gap give for not buying coverage. That's exactly what a coverage calculator or a real conversation with a licensed advisor is for — it turns "I don't know" into a real number in a few minutes.

"They don't bring in a paycheck, so there's nothing to replace."

Childcare, household management, and the other work a stay-at-home parent does has real economic value — replacing it (childcare costs, help around the house, and more) is exactly what a policy sized for that parent can cover.