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10 Everyday Things that cost more than term life insurance

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10 Everyday Things that cost more than term life insurance -

Adults and parents fear. We care about the health, safety, financial security and the future of our family. But most families need to put their money where their heart is through the purchase of term life insurance. (This is the most affordable kind when originally purchased and provides protection for a specific period of time or "term".) However, the issue is not hypocrisy, but a lack of research and financial literacy . In a life that occurs and the LIMRA study this year, 65% of households did not buy life insurance because they think it is too expensive.

To show that this is a common error, the study asked Americans to estimate the cost of a 20-year, $ 250,000 of term life insurance policy level for a healthy 30 year-old male. Eight out of 10 people overestimated the cost, saying it would be $ 400 per year, which is more than double the actual cost of about $ 0 per year, or about $ 13 per month. Surprisingly, one in four thought that it would cost over $ 1000 per year.

And just know that if you have serious health problems, pre-existing conditions or leisure high risk that would likely require a high-risk insurance, obtain affordable coverage is really simple.

How is life insurance?
To put the real cost of term life insurance in perspective, here are 10 products or services that people regularly spend money on this cost over a premium term life insurance would be for a healthy 30 years at $ 13 per month

  1. supply -. According to the National Council of Defense resources, Americans waste about $ 529 per year or $ 44 per month on snacks and junk food
  2. alcohol -. According to the Bureau of Labor Statistics, the average American consumer spends 1% of their discretionary income on alcohol
  3. Tobacco - .. For households with smokers, 14% of income Americans are spent on cigarettes
  4. Gym membership - the $ 30 per month, you go on a 24 Hour Fitness membership will used could be better spent funding your policy life
  5. Electronics -. This new 55 "LED TV that costs $ 800 could be used to cover about five years of long-term life insurance premiums
  6. games . - Video game average $ 50 per new version . Do not you think your child would prefer that the financial security of a game, he / she will play for a few months
  7. cars - under-use on your next car purchase $ 3,000 and a loan period of six years with 0% APR, you will save $ 500 per year or $ 40 per month
  8. Gadget -. Depending on the version you get an iPad costs about $ 550 with tax years, almost three and a half years of premium payments
  9. Entertainment - .. a pair of movie tickets, popcorn, and a drink, a total of $ 25
  10. mode . - a pair of designer jeans costing $ 50 or more

Saving money and the financing of your life insurance policy is not to make life miserable. In fact, the average cost of life insurance is so low compared to your overall budget, that even small concessions such as reducing waste and limiting frivolous purchases can open your budget enough to buy a financial tool very necessary.

ultimately, peace of mind and pride to ensure the financial future of your family outweigh any temporary pleasure of a materialistic purchase.

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