September is National Life Insurance Awareness Month, and it’s a good time to revisit something that often gets pushed to the bottom of the to-do list: making sure your family is financially protected.
For many people, life insurance feels complicated or easy to put off, but term life insurance is one of the most straightforward, affordable ways to get the coverage you need. Whether you’ve been meaning to look into it or just want a quick refresher, here are five essential things to know about term life insurance.
1. It’s the Most Affordable Way to Get Coverage
Term life insurance is designed to be simple and affordable. You choose a coverage amount and a time period (10, 15, 20, 25, 30, 35 or 40 years), and your premium stays the same for the entire term.
For most healthy applicants in their 20s or 30s, a $500,000 policy can cost less than $1 a day. There’s no investment component, no complicated structure—just solid coverage when your family needs it most.
2. The Best Time to Get It Is Sooner, Not Later
Rates are based on your age and overall health. The younger and healthier you are when you apply, the more you can save over the life of your policy.
Waiting until later, like after a health change or major life event, can mean paying more for the same amount of coverage. Applying earlier helps you lock in lower rates for the entire term.
3. It Covers the Big Financial Risks Your Family Would Inherit
If you were no longer around to provide for your family, what would they need to stay afloat?
Term life insurance helps cover:
- Mortgage or rent
- Childcare
- Groceries, bills, and daily expenses
- Debt repayment
- Future education costs
It’s not about leaving a legacy—it’s about making sure your family can keep going without your income.
4. Outliving Your Policy Doesn’t Mean You Wasted Money
It’s common to worry about paying into a policy you never “use.” But with term life insurance, the goal is to eventually self-insure the risk of losing your income due to your premature death. Think of it this way, once you are in your seventies and assuming you’ve saved well, no longer have any debt and your children are now financially independent, why do you need life insurance? If your policy expires and no claim is ever filed, that means your family made it through the years you were most concerned about. That’s not a loss—it’s the intended outcome.
If you want a refund option, there are “Return of Premium” term life insurance policies available. They cost more and generally only make sense for folks under the age of 35, but you’ll get back what you paid if you outlive the policy. We are happy to discuss your options with you.
5. It’s Easier to Get Than You Might Think
Many policies may not require a medical exam, and the application process is faster and more flexible than it used to be…you may be able to have your new policy within 24 hours of applying for it!
At Low Cost Life Insurance, we only offer term policies because that’s what most people actually need. No confusing extras, and no pressure to “upgrade.” Just affordable coverage with clear terms and straightforward options.
This Month Is a Good Time to Act
If life insurance has been on your list for a while, now’s the time to check it off. It doesn’t take long to apply, and you might be surprised how affordable the right policy can be.
We’re here to help you sort through your options—no pressure, no sales pitch. Just the information you need to make a wise decision for your family.
→ Get a quote or talk to us about what term length and coverage amount make the most sense for you.
