Superstitions and false beliefs can lead us to do some pretty strange things. Do you have a lucky shirt that promises to bring victory to your favorite sports team? How about a morning routine that you don't dare stray from for fear of setting off a disastrous day? When it comes to ensuring the future well-being of those we love, some of the justifications that we use to avoid buying a life insurance policy not only don't make sense, but they can also have dire consequences. Consider whether or not you are using one of these reasons to avoid purchasing life insurance.
The Cost Factor
The number one reason that people don't purchase a life insurance policy when they should is that there is a gross misconception about the cost of insurance. In fact, the 2015 LIMRA study asked just this question and found that 80% of those surveyed overestimated how much an average term life insurance policy would cost. The best course of action is to get some easy online quotes and find out for yourself the true affordability of this important coverage.