When it comes to insurance, we generally aren’t very good at guessing how much insurance costs. We underestimate some and overestimate others. New research shows that consumers believe the cost of life insurance is nearly three times the actual price!
And the younger you are the more likely you are to think life insurance costs a lot more than it does. The survey asked people to estimate the cost of a 20-year, $250,000 level term life policy for a health 30 year old. Survey respondents estimated $400 per year when the actual cost ...