4 Surprising Things That Cost the Same as Life Insurance

A lot of people think life insurance is a big expense, which is probably one of the main reasons that they choose not to buy a policy, or even to look into getting one. If that’s what you’re thinking, you might be surprised to know that life insurance is not nearly as expensive as you think. In fact, in some cases, the price of monthly premium payment is the same as the cost of a meal at a restaurant! So, while it might be tempting to forgo life insurance to try and save some money in the short-term, you could end up costing your family their financial security in the long-term. 

In order to help convince you, we’ve given you a list of some things that cost the same as life insurance, or even more, so you can see how easily a policy can fit into your budget.

Before we get into the list, we wanted to make it clear that we’re looking at the price of a life insurance policy for a healthy 30-year-old, so the rate for your policy can vary. But for our hypothetical customer, they could get a $250,000 policy for around $13 a month. Yes, $13! So what else costs around the same as the average policy?bottle of wine

  1. A bottle of wine– Do you enjoy a glass of wine with dinner now and again? Understandable, but this can cost the same as a whole month’s premium for a life insurance policy! 
  2. Online fitness classes– Staying fit is important, and can even help lower your monthly life insurance premiums- but either way, a monthly subscription plan might cost just as much or more than your premium payments. 
  3. Fast food meals– We all enjoy our little guilty pleasure of a fast-food burger or meal once in a while, so why not treat your family to a life insurance policy?spotify icon
  4. Music streaming plans– Jamming out when having a get-together, in the car, or while working out can help bring a little more joy into your life, but the cost of a subscription to a music streaming service can be the same as the price to protect your family in the future.

These four everyday things can all cost around $13, and bring you a little bit of pleasure, guilty or otherwise. And we get it, you’ve wanted these things, especially during the pandemic. But do you ever stop and think about these little expenses? Probably not, so now think about what you could give your family in the long run by paying the same amount for a life insurance policy!

Budget For Both

illustration of a calculator and money
There is a way to incorporate life insurance into your budget because it is inexpensive.

The little pleasures in life are important, and there’s no shame in that at all. But we know that your family’s welfare is always on your mind, and now you know that protecting them for a low price is possible! You can budget for both: your little pleasures, and life insurance for your family. There are so many different life insurance policies to choose from that there is definitely one to fit your budget. For example, do you want life insurance to only cover a major expense like your mortgage? Then go with a term life insurance policy. Looking for something that will last for your whole lifetime? Then a permanent or whole life insurance policy will be best. 

Your family has financial obligations that will not go away when you are gone; they will need your help more than ever with their expenses, and the last thing you want them to worry about is money while they are grieving. There are many great affordable life insurance options to choose from that will provide enough money for your family, for a low monthly price. The best way to find the right life insurance policy for you and your specific needs is by working with an agent who specializes in life insurance. We have provided the top life insurance companies in the nation below; each offers hassle-free assistance and the most competitive rates. Always check multiple sites to make sure you have bargaining power and know the advantages of each company. Make sure a hard time isn’t made harder by a financial burden, check life insurance rates today.

About The Author:
Cassandra Love

With over a decade of helpful content experience Cassandra has dedicated her career to making sure people have access to relevant, easy to understand, and valuable information. After realizing a huge knowledge gap Cassandra spent years researching and working with health insurance companies to create accessible guides and articles to walk anyone through every aspect of the insurance process.

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