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.
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 that 6% of kids will lose a parent before age 18, when they need financial protection the most.*
Life insurance is an important 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.
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. Too many families are letting this misconception stop them from getting valuable coverage. Using a 100% online system to find a policy like ours, you can see how certain factors, like term length or coverage amount, affect your monthly price.
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Life insurance prices increase as you grow older, so it’s smart to take action sooner than later. Once you lock in your price, it’s set for the duration of your term length.
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, and 63% wanted to leave an inheritance.?
Whatever your reason, we understand that getting life insurance is anything but an everyday financial transaction. That’s why we approve 95% of people who apply—because protecting the ones you love most shouldn’t be difficult.
Take action to protect your loved ones.
How to get life insurance today without the hassle of medical exams or long waits? The answer is us. In our application process, you answer a few health questions instead of going to the doctor or taking blood tests. If you’re ready to make a plan for life insurance, start by getting a quick quote now.
*Death of a Sibling & Death of a Parent, 2021, Judi’s House/JAG Institute. All other data: LIMRA, Facts About Life 2021
?LIMRA, 2021 Insurance Barometer Study