10 Reasons People Don’t Buy Life Insurance
(and Why You Shouldn’t Wait)
When it comes to life insurance, most people agree it’s important. Yet, millions of Americans are uninsured or underinsured, often for reasons that don’t hold up when you take a closer look. Here are the top 10 reasons people avoid buying life insurance, and why rethinking them could be the best financial move you make this year.
1. “It’s Too Expensive”
Many people overestimate the cost of life insurance, sometimes by 3x or more. In reality, a healthy 30-year-old can often get coverage for less than a cup of coffee a day.
Pro Tip: Locking in a policy when you’re young and healthy keeps your rates low for decades.
2. “I’m Young and Healthy, I Don’t Need It Yet”
Life insurance isn’t just for older people; it’s protection for your family’s financial stability if something unexpected happens. Waiting means higher premiums later (or worse, becoming uninsurable).
3. “I Get Coverage Through Work”
Employer-provided policies are a great perk, but they’re rarely enough, and they disappear if you leave your job. Most experts recommend supplementing workplace coverage with your own policy.
4. “I Don’t Have Kids”
Even without children, life insurance can cover debts, help your partner, or leave a legacy to someone you care about. Think of it as a financial safety net for anyone who depends on you.
5. “I Don’t Understand How It Works”
Insurance can be full of jargon (term, permanent, riders, cash value, etc.), but at its core, it’s a contract that pays your loved one’s money if you pass away. A good advisor will explain it in a way that you understand.
7. “I Have Savings, So I Don’t Need It”
Unless you have enough assets to cover your mortgage, debts, living expenses, and future goals for your loved ones, life insurance is still an important layer of protection.
8. “It’s Too Complicated to Choose the Right Plan”
With so many options, it can feel overwhelming. The key is starting with your needs, budget, and goals, then letting an expert guide you toward the right fit.
9. “I’ll Do It After I Buy a House/Get Married/Have Kids”
Major life events are great reminders to get insured, but waiting until they happen means you’ll likely pay more. It’s smart to secure coverage now and adjust as your life changes.
10. “I Don’t Like Thinking About Death”
It’s natural to avoid uncomfortable topics. But life insurance isn’t about death; it’s about protecting life for the people you love.
The Bottom Line
Most reasons for avoiding life insurance are rooted in misconceptions or a lack of action. By acting now, you can secure affordable, lasting protection and give your loved ones peace of mind.
Next Step: Talk to a Real Innovation advisor to find a policy that fits your life and budget, and check “protect my family’s future” off your list today.