The misconception about the price of life insurance is the main reason many people don't purchase life insurance coverage.
Most consumers think life insurance costs nearly three times the actual price, according to a report by the nonprofit Life Happens.
However, term life insurance premiums can be as low as $15 per month, depending on your age, and the amount of coverage you need.
Life insurance premiums depend on several factors, including your age, lifestyle and health, so it may save you money in the long run by looking into life insurance now rather than waiting until you are older.
Learn how to find an affordable life insurance plan.