Three independent conversations today began with perspective clients informing me that the primary reason they had not considered purchasing life insurance previously was because they believe it to be too expensive. Today was not an uncommon day, and these were not atypical comments relative to those I hear on a regular basis.  I find this is the single largest myth surrounding life insurance. 


One of the individuals this morning was a dear friend of mine who had a genuine need to secure coverage sooner than later as his wife was pregnant with their second child. When I asked my friend how much he thought $500,000 of 20-year level term insurance would cost each year, he quickly replied $1,500. Instead of $1,500 annually, this healthy 32-year-old gentleman was able to secure $500,000 of life insurance along with his family’s future financial obligations for under $450 each year.  There is not an investment in the world that can compete with the efficiency and effectiveness of life insurance. 


The real number to focus on here is 86%. According to a study conducted by LIMRA (Life Insurance and Market Research Association), 86% of respondents say they haven’t bought life insurance because it’s too expensive, yet overestimate its cost by up to 3X.  Life insurance will never be as inexpensive as it is today when you are younger and healthier than you will be tomorrow.


Don’t wait until it is too late.

Posted 8:22 PM

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Raving Fans

Thank you so much for all the time and careful explanation you shared this morning --- You are SO knowledgeable and well spoken!

I have alerted State Farm that I have found a superior company/policy. So, let's proceed with our plan to begin coverage on Monday, July 22!

Many, many thanks again, Julie!

Cynthia Pierce

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