Ask most people what matters most to them, and their family’s financial well-being is usually near the top of the list. Still, when it comes to setting aside money for life insurance, many hesitate. The main reason? Cost—or at least what people believe coverage will cost.
Surveys have shown that more than half of consumers think life insurance is far pricier than it actually is, with younger adults overestimating by as much as six times. In reality, a healthy 30-year-old could secure a $250,000, 20-year term policy for around $13 per month. To put that in perspective, here are five common expenses that cost about the same—or even more—than life insurance.
1. A Bottle of Wine
In many parts of the country, a mid-range bottle of wine from the supermarket averages about $13. Skipping just one bottle a month could easily free up the money to provide lasting financial security for your loved ones.
2. One Subscription Meal
Meal delivery services are convenient, but individual entrées often cost between $10 and $15. Passing on just one delivery each month could cover a life insurance premium that protects your family far longer than a single dinner ever could.
3. Streaming Fitness Classes
Plenty of people happily pay $12–$13 each month for access to online fitness programs. For roughly the same amount, you could also add life insurance into your budget—proof that you don’t necessarily have to choose between health for today and protection for tomorrow.
4. A Fast-Casual Burger Outing
A custom burger, fries, and a drink at a popular fast-casual chain will set you back around $12. Cutting out one of these meals each month provides nearly the same savings as a basic life insurance premium.
5. A Music Streaming Plan
Most music streaming platforms charge about $13 monthly for a family subscription. Just as you wouldn’t think twice about paying for unlimited playlists, you can think of life insurance as another subscription—this one giving your family security instead of songs.
Making Room in Your Budget
The point isn’t to give up every little pleasure. Rather, it’s to show that life insurance doesn’t have to compete with your lifestyle. Often, shifting one small monthly expense is all it takes to make room for coverage.
What you gain in return is peace of mind: knowing that if something unexpected happened, your family could remain in their home, pay essential bills, and carry on without financial devastation. That kind of security is worth far more than the price of a burger, a bottle of wine, or a playlist.
If you’ve been putting off life insurance because you assumed it was unaffordable, it may be time to take a second look. For about $13 a month, you can protect your family’s future—a cost that’s often less than what you’re already spending on everyday conveniences.
