Primerica Reviews 4 Term Life Insurance Myths
Key Takeaways
- Many people aren't certain whether they need term life insurance or when to purchase it, leading to delays in applying for this important type of financial protection.
- Relying solely on employer-provided life insurance may not offer enough coverage to fully protect your loved ones.
- Term life insurance can provide meaningful financial security at any life stage — whether you're young, single or just starting a family.
- Finding the right coverage is simpler than many think, and guidance from a professional can help make the process easy to understand.
Do I really need term life insurance? It's a question many ask – especially if you're young, single or already have coverage through work. Unfortunately, misconceptions about this key source of financial security can lead some astray – causing them to put off getting coverage or leaving their family with inadequate protection should the unthinkable happen.
The stakes are higher than many may realize. At least 74 million Americans are entirely uninsured and another 25 million don't have adequate coverage, according to LIMRA, a research and professional development organization serving the financial services and insurance industries.1
It's easy to think of life insurance as something you'll get to eventually. But the truth is, the sooner you start, the more prepared you'll be for life's unexpected turns.
Learn the facts behind 4 common myths about term life insurance
Myth #1: Life insurance is too expensive.
One of the biggest misconceptions about life insurance is that it's out of reach for the average person. In fact, a recent study conducted by nonprofit associations LIMRA and Life Happens found that adults under 35 years old overestimate the cost of coverage by as much as 12 times the actual price.2 The reality is life insurance cost varies based on your age, health and the amount of coverage, but most can find a plan that fits their budget.
Myth #2: Employer-provided coverage is enough.
While many employers offer some form of life insurance, it's often limited and isn't likely to transfer with you if you change jobs. Or you may be surprised that your new employer doesn't offer life insurance at all. Even when it's included, workplace policies typically provide only a basic level of protection. For families with ongoing financial obligations, this may not be enough to cover debts, living expenses or future goals. A supplemental policy can fill that gap and help ensure your family is protected for years to come.
Myth #3: Life insurance isn't for young or single people.
Many people assume they don't need life insurance until they're older, married or have children — but that mindset can leave them unprepared and result in higher premiums. Getting term life insurance when you're young and healthy can be a smart financial move, laying a foundation for future protection as life evolves and allowing you to potentially lock in a lower rate. And being single doesn't mean you're without financial responsibilities. From co-signed debts, like a mortgage or student loans, to covering final expenses, there are plenty of reasons to apply.
Myth #4: Life insurance is too complicated and confusing.
Life insurance might seem overwhelming at first – but it doesn't need to be. Term life coverage is designed to be straightforward, offering protection for a set period of time with clear benefits and clear costs. With guidance from a professional, understanding your options and choosing the right policy for you can be simpler than you think.
A licensed Primerica representative is ready to help you.
Contact your local licensed Primerica representative today to help navigate your options and find the right term life insurance product for your unique needs.
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1 Source: limra.com, "Ensuring a Protected Tomorrow with Life Insurance," July 7, 2025.
2 Source: limra.com, "Adults Age 30 and Younger Overestimate Life Insurance Cost by 10-12 Times," June 25, 2025.
Life-licensed Primerica representatives are agents of certain affiliated Primerica Companies. In New York, term life insurance products are underwritten by National Benefit Life Insurance Company, Home Office: Long Island City, New York. In the United States (except in New York), term life insurance products are underwritten by Primerica Life Insurance Company, Executive Offices: Duluth, Georgia. In Canada: Term life insurance products and Common Sense Funds segregated fund products are underwritten by Primerica Life Insurance Company of Canada, Head Office: Mississauga, Ontario. Not all products are available in all states or provinces.