🔎 Disclosure: WE DON’T SELL ANY COURSES. Money Vice is reader-supported. When you buy through our links, we may earn a commission at no extra cost to you. The ideas presented on this site are opinions and are presented for entertainment purposes only. We’re not licensed financial advisors. The information presented should not be construed as financial or legal advice. Always do your own due diligence.
1. Waiting Too Long To Get Life Insurance
Have you ever told yourself you’ll get life insurance “one day,” then somehow it’s five years later?
Yeah, that “one day” mindset can cost you big time.
Life insurance only gets more expensive as you age, and waiting until you “feel ready” means paying higher premiums later.
And if something unexpected happens before you apply. Well, there’s no coverage to protect your loved ones, which kinda defeats the purpose, right?
The truth is, the earlier you start, the cheaper it stays, and locking it in young means future-you won’t be side-eyeing your bank account later.
👉 Here's How You'll Do It: Get a quick online quote from Insurify today. It takes 5 minutes and could save you hundreds.
📌 SAVE IT FOR LATER! 📌
2. Forgetting To Compare Multiple Insurance Quotes
You wouldn’t buy the first car you see on a lot, right?
So why treat life insurance like a take-it-or-leave-it deal?
Every insurer has its own formula for pricing. Sometimes the difference between two quotes can mean hundreds of dollars per year for the same coverage.
Too many people click “buy now” without shopping around and end up stuck paying more for less.
Comparing quotes doesn’t take long, and honestly, it’s like finding out you’ve been overpaying for years. Just without the heartbreak.
👉 Here's How You'll Do It: Use a comparison tool like Insurify to instantly see rates from top insurers before you commit.
3. Buying More Coverage Than You Really Need
You know that feeling when you order too much food and regret it later?
Same energy when you buy more life insurance than your family actually needs.
Sure, you want them to be secure. But over-insuring yourself just means you’re paying for protection you’ll never use.
A good rule? Cover enough to replace your income, pay off debts, and handle final expenses. No more, no less.
Because financial peace of mind doesn’t have to come with a side of overkill.
👉 Here's How You'll Do It: Use a free coverage calculator on NerdWallet or SmartAsset to figure out the right amount for your situation.
Bonus Tip: Not Reviewing Your Policy Every Few Years
Have you ever found an old photo of yourself and wondered, “Who let me wear that haircut?”
Well, your life insurance policy can age just like that. Quietly outdated and kinda embarrassing.
What once fit your lifestyle perfectly might not cover your new mortgage, growing family, or side hustle dreams.
That’s why checking your policy every few years is a small move that can save you serious money and stress.
Here’s the trick most people skip: you can use Insurify to compare updated quotes from dozens of trusted insurers in minutes (seriously, it’s like Tinder for insurance, but without the bad dates).
👉 Here's How You'll Do It: Go to Insurify, answer a few quick questions, and review your top matches. It’s free, fast, and keeps your policy as fresh as your latest Miami playlist.
4. Ignoring Policy Exclusions and Hidden Fees
Ah, yes, the fine print. Everyone’s favorite novel.
You’d be shocked how many people skip reading it and later find out certain causes of death or missed payments void coverage.
Insurance companies love to bury small details in a forest of legal mumbo jumbo.
But ignoring exclusions can leave your family with nothing when they need it most. Total nightmare, right?
Reading your policy like a detective saves you from surprises that could’ve been avoided with one cup of coffee and a little attention.
👉 Here's How You'll Do It: Before signing, ask your agent to explain every exclusion in plain English. Or better yet, record the call for reference (most allow it).
5. Relying Only on Employer-Provided Coverage
Let’s be honest, your company’s life insurance is more of a perk, not a plan.
It sounds great. Until you switch jobs and realize your coverage doesn’t follow you.
Employer policies are usually small (think one or two years of salary), which won’t stretch far if something happens.
That’s like relying on a paper umbrella in a hurricane. Looks fine at first, then snaps.
Having your own policy guarantees control, no matter where you work or what happens next.
👉 Here's How You'll Do It: Keep your work plan, but grab a personal term policy through Insurify or Ladder for real long-term security.
📌 SAVE IT FOR LATER! 📌
And that’s it!
Never forget it…
🍔 A Bigger Bank Account Is Waiting For You!
😉 Dale!
