MYTH: I can’t afford life insurance.
According to the 2015 Insurance Barometer study conducted by Life Happens, 80 percent of consumers misjudge the cost of term life insurance. Life insurance can be very affordable for many people, depending on the coverage you’re looking for. In most cases it is possible for the average person to find affordable life insurance. You can start with a policy that fits your budget, and you may be able to purchase additional coverage later on.
If you’re smart enough to buy it when you’re young and single with a low monthly cost, you’ll benefit in the long run. Also, you still have a need for final expenses, unpaid debts and medical bills.