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Life Insurance is More Affordable and Easier To Get Than You Think

Last Updated: September 12, 2022 BY Michelle Schroeder-Gardner - 7 Comments

Disclosure: This post may contain affiliate links, meaning I get a commission if you decide to make a purchase through my links, at no cost to you. Please read my disclosure for more info.

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Life Insurance is More Affordable and Easier To Get Than You ThinkThe following is a sponsored partnership with Ladder. Ladder has been featured on The Wall Street Journal, MarketWatch, Bloomberg, and more.

So many people skip out on life insurance, because they think it’s too hard and too expensive.

According to Life Insurance Awareness Month facts (from September 2017), around half of the people in the U.S. do not have life insurance. And, those who do have life insurance typically have much less coverage than they need, at an average of just $168,000.

Many of the people who do have life insurance, just take what is given by their employer. Let me say, that life insurance through work is not all that you need!

I highly recommend getting life insurance outside of your workplace – so that you can get the right amount (life insurance provided by your employer is usually a very low amount) and you’re still covered when/if you leave your job. Many people forget to look for life insurance after leaving a job that provided it, and then realize later that they didn’t have life insurance that whole time. Due to the two reasons above, I am in favor of always having your own life insurance policy and being in control of it.

Today, I want to tell you that the process of getting life insurance is easier than you think.

And, yes, you most likely can afford it!

Also, let’s not forget what life insurance is for.

Life insurance is money for your family if you pass away. And, if you are the sole or primary earner in your family, then there are a lot of people who rely on you financially. If you stay home and do not work, you still do all kinds of things for your family that are extremely important and can be costly without you, so life insurance is still quite important!

It is money that can be used to pay for funeral expenses, the day-to-day bills, pay off debt, etc. Life insurance is also beneficial if anyone has co-signed a loan for you – such as a private student loan, because you don’t want that person to be liable for your debt and put them in hardship if something were to happen to you. There are several other reasons for why life insurance is so important as well.

With Ladder, life insurance is quite easy to get.

The steps are:

  1. You get started on their website by selecting the coverage amount you would like and the term. They have a handy calculator to help you determine what you need as well.
  2. You apply in just 5 minutes. It can take just 5 minutes to answer their questions and submit your application for life insurance.
  3. You receive an instant decision. After you submit your life insurance application, you get a decision from Ladder right away.

Yes, Ladder actually gives you a decision on life insurance in an instant. So, what used to be a weeks long process, is now just down to a few minutes, so you really have no reason to not apply for insurance – even if it is just to see how much you would be paying.

With Ladder, you can also easily adjust your coverage online as your needs change.

Life Insurance is More Affordable and Easier To Get Then You Think

I did a quick estimate on Ladder’s website, and a $1,000,000 policy for myself could be found for around $22 to $50, all depending on the length of the term (from 10 years to 30 years).

As you can see, getting life insurance can be a simple process, with huge benefits. There’s no reason for why you shouldn’t look into it further.

Do you have life insurance? Why or why not?

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7 Comments
Filed Under: Budget Tagged With: Budget, Life Insurance

About Michelle Schroeder-Gardner

Michelle is the founder of Making Sense of Cents, a blog about personal finance and traveling. She discusses how her business has evolved in her side income series. She paid off $40,000 in student loans by the age of 24 mainly due to her freelancing side hustles. Click here to learn more about starting a blog!

Comments

  1. DNN says

    January 11, 2019 at 6:56 pm

    Life insurance is also good to have just in case some family members who claim the love you allegedly back out after you’re deceased and decide not to pay for your funeral. I have family members who act very funny when it comes to helping each other out financially. but it’s the same ones who never want to help you out moneywise when you’re down and out that come around trying to speak with their hands out when they find out you’re doing good and came into some money. Then they decide to pick up the phone and call you and act like they love you in hopes of getting a few bucks from you. The best life insurance is to be independent and plan ahead financially. 🙂

    Reply
    • Michelle Schroeder-Gardner says

      January 17, 2019 at 3:17 pm

      I’m sorry 🙁

      Reply
  2. jason says

    January 14, 2019 at 2:17 pm

    Life insurance is the foundation of any strong financial plan!

    Reply
    • Michelle Schroeder-Gardner says

      January 17, 2019 at 3:18 pm

      Yes!

      Reply
  3. Aleaji Uzoma says

    January 14, 2019 at 5:40 pm

    I totally agree with Jason above that life insurance is a huge part of a strong financial plan.

    I have been writing and researching about the life insurance niche and have never come across LadderLife.

    I think their coverage is an amazing looking at the estimate you published in the image above.

    I will make a quick search about them and come up with a unique review about them on my insurance blog.

    Thanks for sharing, Michelle.

    Aleaji

    Reply
    • Michelle Schroeder-Gardner says

      January 17, 2019 at 3:18 pm

      Thanks!

      Reply
  4. Michelle Schroeder-Gardner says

    January 17, 2019 at 3:17 pm

    Thanks!

    Reply

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My name is Michelle and I'm the author/owner of Making Sense of Cents. Learning how to save money and make more money changed my life. It allowed me to pay off $40,000 in student loans, start my own business, and I now travel full-time.

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