Life Insurance Facts You Need to Know
Is coverage as expensive as people think? The numbers might surprise you.
Pop quiz: How much do you know about life insurance? Ask yourself these questions — and then find out the facts.
- How many people own life insurance?
- Most Americans overestimate the cost of life insurance. By how much
- What’s the #1 reason Americans buy life insurance?
- What’s the easiest, fastest way to get coverage without hassle?
H2: The amount of protected families has fallen
Answer: 52% of Americans reported owning life insurance in 2021. That’s a significant decrease since 2011 (63%). The numbers are concerning, considering 6% of kids will lose a parent before age 18, when they need financial protection the most.*
Life insurance is an essential safety net for families, providing financial support if the policyholder passes away unexpectedly. If you have a policy, you can rest easy knowing your loved ones are protected, even if something happens to you.
Our partners at Ethos make it easy to get a quote online. If you’re ready to apply, it only takes a few minutes.
H2: People overestimate the cost of life insurance…by a lot
Answer: More than half of Americans overestimate the cost of life insurance by at least 3x! Imagine the price of your favorite fancy cup of coffee, and triple it — sounds wild, right? Too many families are letting this misconception stop them from getting valuable coverage. By using a company like Ethos to find a policy, you can see how certain factors, like term length or coverage amount, affect your monthly price.
The price of life insurance increases as you grow older, so it’s a smart move to take action sooner than later. Once you lock in your price, it’s set for the duration of your term length.
H2: Our reasons for life insurance are deeply personal
Answer: Covering final expenses is the #1 reason 83% of Americans buy life insurance. Additionally, 68% of people got a policy to replace lost income…