We recently dispelled a few car insurance myths right here on the Esurance blog. In honor of Life Insurance Awareness Month, we’re using our myth-busting power to uncover the truth behind a few life insurance myths as well.

Myth: I don’t need life insurance

This myth persists, in large part, due to the fact that people don’t like to talk, much less think, about life insurance. But wouldn’t it be nice to know your family is taken care of if something happens to you?

After all, life insurance is designed to guard your family against all sorts of financial challenges. It can cover existing debts and unexpected expenses. It can even pay for college for your kids or help keep the family business afloat. Think about it long enough and you’re sure to come up with some compelling reasons for having life insurance. Unfortunately, once you get past this myth, you run up against our second life insurance myth.

Myth: I can’t afford life insurance

It’s surprising how many people think life insurance is too expensive to consider. The truth of the matter is that you can spend less on life insurance than lattes and for just a few dollars a day protect your family.

Here are 5 tips for saving on life insurance, courtesy of our partner at Efinancial:

  1. Buy sooner rather than later. (Rates increase as you get older.)
  2. Get healthy before the medical exam. (Typically, the healthier you are, the lower your rate.)
  3. Get the right amount of coverage. (Buy only what you need.)
  4. Talk to an expert. (The wrong policy can end up costing more in the long run.)
  5. Shop around. (When you get a quote with Esurance, you can compare it with rates from other carriers.)

Don’t buy into the myth that you don’t need or can’t afford life insurance. To celebrate Life Insurance Awareness Month, we recommend at least checking out a few different policies. You might be surprised how affordable (and worthwhile) good ol’ life insurance can be!

And if you have questions about life insurance, our life insurance FAQs can help.

Insurance 101


about Heidi

Heidi brings 11 years’ experience to her role as Esurance’s copywriting manager. Writer, editor, and all around wordsy, she was content when content wasn’t cool. Also, she likes old-school country.