Many families put off the thought of getting life insurance to avoid additional costs. According to a study conducted by Life Happens and LIMRA, eight (8) in ten (10) people overestimate the real cost of life insurance, saying that it would be $400 a year, which is more than twice its actual cost, which is about $160 a year or $13 per month.
To help put the true cost of life insurance into perspective, All Insurance Florida, a trusted insurance agency in Florida, provides you a list of products that cost more than life insurance:
Americans have been found to waste $529 per year on unwanted snacks, according to the National Resource Defense Council.
A pair of designer jeans will cost $50 or more.
The Bureau of Labor Statistics has found that the average American consumer spends about 1% of their income on alcohol.
Fourteen percent of Americans’ incomes are spent on cigarettes.