Are you like the majority of Americans who don’t have life insurance¹, but say that they know they need it? With the price of everything from home to college and grocery to daycare costs rising, it’s more important than ever to get life insurance to help protect your loved ones.

According to the 2022 Insurance Barometer Study, from Life Happens and the financial and insurance organization LIMRA, 2 in 5 parents say they are barely or not at all financially secure. It’s crucial to be prepared with life insurance on your household breadwinner, as 44% of survey takers said they would feel financial hardship in less than six months if something happened to them.

While cost is certainly a major factor (and it takes the top spot in our list below), some of the other reasons might resonate with you also.

1. It’s too expensive. Cost is the number one reason people don’t have life insurance. The same study shows that women specifically cited expense as a roadblock to purchasing life insurance, even though they recognized its importance more than men (44% vs 38%). Life insurance is probably more affordable than you think—and there are lots of ways to bring the price into your comfort zone.
2. I have a health condition. The good news is that having a health condition doesn’t automatically disqualify you from getting life insurance. If you overcame a serious condition in the past or if you are managing a condition with the help of a medical professional, you can still be covered.
3. I don’t have any kids. There are many reasons people with no children still need life insurance. Just a few include providing for a financially dependent spouse or another family member, having the money to pay for a funeral or being able to pay off a loan that has a cosigner. Life insurance can also help you leave a gift to a religious, educational or charitable organization near and dear to your heart.When you purchase life insurance, consider adding a Guaranteed Insurability Option (GIO) rider² which lets you increase your protection in the future, when you may have children or other reasons to increase coverage. By purchasing the GIO rider with your initial policy, you’ll be able to increase your life insurance coverage over time without having to answer medical underwriting questions.
4. I don’t work outside of the home. If you stay home to care for kids or other family members, it may require hiring someone to replace all that you do. And that could be pricey, so definitely consider buying life insurance as a way to cover those additional expenses.
5. I have a policy through work. If you have a group life insurance policy through work, you still need your own personal one. A work policy may not go with you if you switch jobs or retire.
6. I’m not sure what I need. Most people don’t—but our agents are there to help you. Our policies offers options like term life insurance that’s designed to last for a specific period of time and permanent life plans designed to last a lifetime. Your agent can recommend one that works with your life and budget. You can also get an idea of how much life insurance you need by using this handy life insurance calculator.

A Life Policy for Every Situation

Talking about life insurance probably isn’t the easiest conversation to have, but it’s too important to put off. You can trust our agents to make the conversation as easy as possible, and advise you on finding an affordable policy to help you protect your loved ones.

ERIE® insurance products and services are provided by one or more of the following insurers: Erie Insurance Exchange, Erie Insurance Company, Erie Insurance Property & Casualty Company, Flagship City Insurance Company and Erie Family Life Insurance Company (home offices: Erie, Pennsylvania) or Erie Insurance Company of New York (home office: Rochester, New York).  The companies within the Erie Insurance Group are not licensed to operate in all states. Refer to the company licensure and states of operation information.

The insurance products and rates, if applicable, described in this blog are in effect as of January 2024 and may be changed at any time. 

Insurance products are subject to terms, conditions and exclusions not described in this blog. The policy contains the specific details of the coverages, terms, conditions and exclusions. 

The insurance products and services described in this blog are not offered in all states.  ERIE life insurance and annuity products are not available in New York.  ERIE Medicare supplement products are not available in the District of Columbia or New York.  ERIE long term care products are not available in the District of Columbia and New York. 

Eligibility will be determined at the time of application based upon applicable underwriting guidelines and rules in effect at that time.

Your ERIE agent can offer you practical guidance and answer questions you may have before you buy.


A better insurance experience starts with ERIE.

Haven’t heard of us? Erie Insurance started with humble beginnings in 1925 with a mission to emphasize customer service above all else. Though we’ve grown to reach the Fortune 500 list, we still haven’t lost the human touch.

Contact Colson & Dickie Insurance Services today to experience the ERIE difference for yourself.