As we assess the value of life insurance, it’s imperative to ask, “Compared to what?” The cost of being uninsured and the potential financial impact on your family far outweigh the premiums for a life insurance policy. According to a 2022 LIMRA study, a staggering 81% of uninsured Americans perceive life insurance as overly expensive, mistakenly believing it costs triple its actual price. Let’s debunk this myth: A $250,000 term policy for a 30-year-old in excellent health is estimated to be around $500 yearly; in reality, the cost is much lower.