Tweet, Tweet—Here’s the Truth

Have you put off getting life insurance (or more of it) because you think it’s too expensive? You may want to reconsider when you learn this: Most people believe life insurance costs nearly three times as much as it actually does, according to a new LIFE Foundation and LIMRA study.

Take this example: the annual cost of a 20-year, $250,000, level-term life policy for a healthy 30-year old consumer is roughly $150 a year, but Americans estimate the cost at $400!

Here are 10 other facts from the 2012 Insurance Barometer Study that may surprise you. We’ve made them “tweetable” so you can share: Simply click on the fact you’d like to tweet and the tweet will be generated for you. And be sure to follow us on Twitter at @LIFE_Foundation.

More than three-fourths of Americans believe most people need life insurance. Are your loved ones protected?

Americans overestimate the cost of life insurance by nearly 3 times! It’s more affordable than you think.

What are you waiting for? 1 in 2 Americans with no life insurance say they need some!

Most important factor when buying life insurance? Being certain you understand what you’re buying.

Most common excuse for NOT buying life insurance? Other financial priorities. Time to re-prioritize?

New study: Nearly three-fourths of Americans are concerned about having enough money for a comfortable retirement.

Honey, I think you need life insurance. Nearly 3 in 10 consumers wish their spouse had more!

Nearly half of people who need life insurance say they haven’t bought it because they haven’t got around to it. Oy!

Surfing USA! 9 out of 10 people ages 25-44 will use the Internet during the life insurance buying process.

I’ve got some questions for you. 2 in 3 Americans still prefer to buy life insurance face-to-face.

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