Is Life Insurance Worth It? Bestow Has Policies for Every Budget

Bestow is a paid partner of Hip2Save. Hip2Save may earn a small commission from qualifying purchases in this post. Read our full disclosure policy here.

Wondering whether life insurance is worth it? Here’s why we think it’s a great option…

woman and children wearing matching pajama set

Have you set your 2022 financial goals?

Even though it’s a subject that no one likes to talk about, it’s the perfect time to start thinking about purchasing a life insurance policy.

Aside from being one of the best ways to make sure your loved ones are taken care of, life insurance policies can be a whole lot cheaper than you think. In fact, you can start shopping for term policies through Bestow for less than the cost of an average dinner out!

Head over to Bestow now and browse life insurance policies starting at only $10 per month!

woman on floor with laptop

Personally, I find myself paying close attention to my finances around this time of year.

I don’t mean to be cliché, but there’s just something about the New Year that inspires a lot of reflection–especially about money and the future. As we sit down to plan out yearly goals (to the best of our abilities at least 😅), a life insurance policy probably isn’t something that makes its way onto our monthly budget spreadsheets.

But for many people, it absolutely should.

woman on a laptop

Unfortunately, there are plenty of myths surrounding life insurance that take away from how helpful it can actually be for so many families.

Here are some common reasons people don’t opt for a life insurance policy:

“Life Insurance isn’t worth it when I’m young.” The average life insurance premium rises by over 200% for men between the ages of 25 and 50, so it saves you money to purchase it at a young age.

“Life insurance is too expensive.” Actually, around 50% of people overestimate the cost of life insurance. Millennials, most notably, overestimate it by up to 3 times the actual cost.

“I’m better off investing my money elsewhere.” While investments can be a wonderful way to protect your financial future, they’re not guaranteed. 65% of uninsured Americans are not able to protect the financial security of their loved ones.

“I won’t get my money’s worth.” Insurance companies paid out over $90 billion to beneficiaries in 2020. Those payouts certainly helped families who never imagined they’d need it.

Note: All statistics come from the LIMRA 2021 Insurance Barometer Study

family in zion national park

Life insurance is one of those things you hope to never need. But if you’re wondering whether or not life insurance is worth it, Bestow’s low monthly costs combined with the fact that you can rest easy knowing your loved ones are taken care of makes a win-win scenario.

family at the beach

Life insurance policies aren’t only important for breadwinners. 

You might be thinking that if your family contributions aren’t mostly financial, then you won’t benefit from life insurance. But your family depends on you elsewhere. If you were to pass away, it would take both an emotional and financial toll on your loved ones since they may have to pay someone to take over those critical housekeeping duties.

Having a solid life insurance policy is an important part of planning for your family’s financial protection whether you make a yearly income or not.

family using facebook portal

Bestow offers term life insurance which can be much cheaper than permanent.

Term life insurance lasts up to a certain number of years–in Bestow’s case, that’s up to 30–as opposed to permanent which typically lasts for the purchaser’s entire life.

If you are looking for permanent life insurance policies, then Bestow may not be the best choice. However, if their term policies fit your lifestyle, they’re refreshingly affordable and won’t deter you from your other 2022 financial goals.

woman giving peace sign with hand while holding laptop

Now that you know life insurance is worth it, how’s the application experience?

Bestow makes the whole application process as easy and non-intimidating as possible. Unlike many life insurance providers, they can give you a monthly estimate quote in minutes and don’t require a medical exam. Shopping for life insurance can be stressful enough as-is, but it’s a breeze with Bestow’s simple application process.

They also have tons of great information about the type of insurance they offer that you can read to find the best fit for you!

couple on couch with laptop and papers

Head over to Bestow to get a free quote & apply online, and if approved, you can get coverage immediately. Policies start at just $10 per month!


Life insurance quotes provided by Bestow Agency, LLC dba Bestow Insurance Services in CA, who is the licensed agent. Term Life Insurance Policies offered by Bestow are issued on policy form LS181 and LS182, or state version including all applicable endorsements and riders, by North American Company for Life and Health Insurance®, Administrative Office, One Sammons Plaza, Sioux Falls, SD 57193. Products or issues ages may not be available in all jurisdictions. Limitations or restrictions may apply. Not available in New York. Our application asks about your lifestyle and health to determine eligibility in order to avoid requiring a medical exam.


Brandi has an Associate's Degree and 5+ years of experience writing and creating online content for local businesses.


Join The Discussion

Comments 45

  1. Stacy

    I thought ads had to be clearly marked on blogs?

    • tipaye

      I’m confused as well and have requested clarification.

      • Katibell

        On the app there is no disclaimer above

    • laura-24

      Thank you. I was thinking the same thing. I hate it when Hip2save does this. Seems slimy.

      • lexiloowho

        Slimy?! Do you not realize that it costs actual money for them to have a site running and app plus multiple people posting deals daily? It’s always nuts to me when people complain about a FREE thing that is wonderful and helps save money.

      • Nancy

        How is it slimy? They are trying to help you. If you know how to comment on a blog that clearly you are smart enough to know what is an ad and what isn’t an ad

    • Amber (Hip Sidekick)

      This is an informative post regarding Life insurance for those interested and wanting to learn more. There are affiliate links in the post which we disclose at the top of all of our posts. This helps to support the site in so many ways including paying the awesome team members here at Hip2Save, covering web hosting and service fees etc and essentially keeps the site free for all of you awesome readers! 😊

      • Katie

        THANK YOU for this post! I don’t know about this specific company but all the general information about life insurance is TRUE and it’s such an important topic to talk about. You want to save money? Get life insurance early. You want to make sure your family is protected? Get life insurance period! I lost my dad when I was on the younger side and because of that we took out life insurance as soon as I was first pregnant even though we could hardly afford it. Then we took out more when we condo afford it. It’s a HUGE sense of security knowing our children will be financially ok no matter what.

        • Amber (Hip Sidekick)

          You’re very welcome, Katie. SO sorry for your loss. Thanks for sharing your story with us.

  2. JD827

    From personal experience I can echo a lot of the points made in this article. Make sure that at a minimum there is a policy that covers your burial expenses. Put together an “oh sorry you are dealing with this folder” listing passwords, bank accounts, bank safety deposit boxes, life insurance, who to contact at your work, arrangements you have made for your pets, etc. While you are at it get short and long term disability insurance; life can change in an instant. Don’t assume you won’t need life insurance when you are older and switch over from term to another form well before term rates skyrocket as you age. Many people find themselves in old age raising their grandchildren or caring for a disabled adult child. No one wants to think about this stuff but no one is sorry they are insured when it does.

    • Lisha

      Thanks for including scenarios many do not think of. Not only can you save money, but undue stress.

  3. Kincade

    I highly recommend genetic testing. I found out, after being diagnosed with ovarian cancer at the age of 40, that I have the MSH2 gene mutation..aka Lynch syndrome. Before those results came back, I was encouraged to get life insurance for myself, and my children. I had a 50% chance of passing that gene mutation to them. If you find out you have a genetic condition, it’s then considered a “pre-existing” condition and life insurance is very hard to get (and expensive.) Health insurance is a different story, there was a law passed in 2008 that prevents health insurance companies from requiring health screenings and discriminating against people who have genetic conditions. I wish a similar law would be passed for life insurance.

    • Janet

      Kincade, just wanted to say hello from a fellow MSH2 Lynchie!

      • Kincade

        Janet… hello!!!!!! It’s nice to meet someone in the same boat as me! This is still all very new to me.. Lynch syndrome, that is. “Lynchie”… lol…. I like that!

        • Janet

          Kincade, if you have any questions or want more info on Lynch, please send me an email: couponcuties@hotmail.com

    • Janet

      Kincade, I agree about the life insurance. I too am a cancer survivor, MSH2, fellow Lynchie!

    • brandy48

      I hate that I know this, but please PLEASE get life insurance BEFORE you get genetic testing! You mention this but I want to call it out as a separate comment.

      Also get life insurance BEFORE you get pregnant and BEFORE you turn 35, if at all possible. Rates will only go up.

  4. Lissa

    I just unexpectedly lost my father 7 weeks ago. He had term insurance up until a few months before he passed away. When the policy came to the end of the term, the new monthly price was more than he could afford. He was still in the process of shopping to replacing the policy when he passed. We completely regret purchasing a term policy and wish we would have went with a “whole life” one. His funeral and burial (with an already purchased plot) was almost $20K with no active policy. Don’t think you will always have the time and as much as its hard to think about, make sure your love ones left behind will be able to financially take care of your wishes.

    • Blessed

      Sorry for your loss

    • Amber (Hip Sidekick)

      I’m so very sorry for your loss, Lissa. ❤️

    • brandy48

      I think it’s worth understanding the goals of life insurance and then deciding on term vs whole.
      We have a MASSIVE (2M on DH; 1.5M on me) term policy that expires when we are 59. at that point, our kids will all be 21+ and out of college (or had their fair shot at doing it in 4 years). if either of us die at 60+, we are financially saving now for those expenses and not planning to use life insurance to cover things like funeral costs, etc.

      Our term policy is meant to replace income in the years of the term. Hopefully, we never need it. we don’t need a million dollars if either of us dies when the kids are adults and we are nearing retirement. We would need it today, to pay for life, college, mortgages, etc. if DH or I had to raise our 4 kids solo and on one income.

  5. tipaye

    As a Social Worker, Advanced Care Planner and avid individual in general for preparing for end-of-life, I don’t appreciate as a Hip2Save subscriber how this post was handled. Can you please disclose if this is a paid advertisement and if Hip2Save plans to collect commission based on referrals to this company? In an attempt to become more transparent, your company has started disclosing paid advertisements and with a topic as sensitive as this one, additional information would be appreciated. Thank you.

    • Erin

      EVERYTHING on Hip2save is a paid advertisement or promotion that Hip2Save is making money on. Their entire business is based on referrals, us clicking links and using promo codes, and making purchases from links from Hip2Save. That’s why you see an affiliate notification on every single post. There’s nothing wrong with that. Hip2save is providing a service by saving all of us time by consolidating deals all in one place. It’s up to you to decide if the product is right for you. But every single post is trying to convince you how wonderful a product is and/or why you may need it. Hip2save is a business and there’s nothing wrong or non-transparent about what they are doing. They are getting paid by companies for promoting their products. Simple as that.

      • Nancy

        exactly! I do not understand peoples concern/complaints about the ads here. This isn’t a site for kids that needs to say “Hey kids this is an advertisement”. Although, with the way people are reacting maybe they do?!? crazy

  6. NikkiLLM5

    Term life insurance is great but you have to start investing with the money you save by going with term so that when the term ends you won’t need it anymore. You should be investing in a Roth IRA and get with a financial advisor you trust to help you with investments. You can have so much more for your family thru investments than with insurance. You just want enough term to cover your burial until you can get those investments built up. And this way you aren’t wasting your money on insurance when you could have your money making money. I hope this helps.

    • JD827

      That is standard advice and in general works great. I followed it. However 2008 happened to lots of us older folks after retirement. My parents lived through the Great Depression and had pretty strong feelings about investments as well. I never thought that I would be supporting my young granddaughter in my 70’s either. Yes invest invest invest. But have something else up your sleeve as well like a modest insurance policy. I could fill a book with stories of how Wall Street worked out for friends and family.

  7. Decorum

    Better to support your local independent Life Insurance Agent. It costs NOTHING extra and they can offer you this and 40+ other companies and actually shop them to make sure your rate is the best available for you… and you get a real live person helping you now and later.

  8. Lindsay Reddick

    YES!! if you are over 18, you NEED life insurance.

  9. brandy48

    I think this article is terribly written and only gets into half the story. You also shouldn’t rely on your employer sponsored life insurance because not only do you lose it when you leave, but you also have to buy in for insurance when you are much older. I bought term insurance at 33 and pay $40/month (it’s a big policy). My same coverage now would cost me $140/month now that I am 40 and have been diagnosed with various conditions that were not on my record at 33.

  10. Katie

    My friend just passed at 41. Two kids, 4 and 7 and a wife. Their lives will now change not only because of losing him but because financially they weren’t covered for this. It’s really hard to see. We set up a gofundme but it’s not much and the money won’t last long to help them. 😫 Please get life insurance!!!

    • Beverly

      So sorry for your loss.

  11. Jen Mauch

    Life insurance can meet many needs. It’s important you find your ‘why’. For me it was to provide my family income if something happens to me. I have a 30-year fixed premium term as I hope when I’m in my 70’s, with our investments and 401K, we don’t have to worry about needing that. I got my kids a whole life policies to guarantee their insurability in case they ever get sick with a life-threatening illness. I also added a rider so they can increase the policy at certain ages and stages of life. It’s important you understand the differences between term, universal, and whole and then find a good agent to answer questions. And then find your ‘why’.

  12. Holly

    Next you should do a little post about making wills! When I had my first daughter I received the advice: make a will, Boost your life insurance and open a saving account for the child. I myself looked into college savings funds as well. My second child was born last year and when he was about 40 days old he had a savings account, a college savings account, was in our will and his father and I had boosted our life insurance. All so important!

    • Amber (Hip Sidekick)

      Thanks for the request and the helpful suggestion, Holly! I’ll be sure to pass this along to the team! 🙌💞

    • Nancy

      Great suggestion. I am amazed at how few of my friends with children have a will or have it in writing what will happen to their children should both parents die. When we updated our will after our first child the lawyer had it written “AJ and any other children”. That way if we had children after our first born they were covered until we were able to update our will. My SIL who is single and no kids was told by a lawyer that she didn’t need a will. But really everyone does!

  13. molly

    Regardless of where you get your life insurance, please consider it. My friend was pregnant with #3 and lost her husband unexpectedly. They were in their 30s. Thankfully, they had recently purchased life insurance policies and that helped her tremendously as she had to navigate family life without him. I also second the above comment re: getting wills and trusts in order. It took us a while, but once we learned that up to 40% of assets can get exhausted in the probate process, we quickly hired a lawyer to draw up the documents. I rest easier knowing we have these things in place for ourselves and our children.

  14. Katie

    Yes, buy life insurance!!

  15. Christie5264

    FYI… Most life insurances are NOT paying out if you have been vaxxed as it is experimental! Buyer Beware!!!

  16. Shelly

    I don’t understand why, but it said They don’t offer a policy for me. No further explanation. Did this happen to anyone else?

    • Nancy

      It could be a number of things. Health history is usually the biggest one. Whole whole life is not a great product you should be able to get one of those. Even a small one to cover funeral expenses

  17. Nancy

    Great article! I got married at 33 and didn’t get any until then. Thankfully it was still a reasonable cost. My first job I worked for my state and bought an extra policy that I was able to carry with me when I left. My husband and I joke that we are both worth more dead than alive. Even if you aren’t married or have kids life insurance is important. At least enough to cover your funeral expenses. It is also important to have it For the stay at home parent. Because if you die then your spouse is going to have to hire Mary Poppins to fill in all the gaps you leave behind.
    Insurance should NOT be an investment which is why whole life is not the best. Yes there is a cost to term life insurance and, but we also have car, home, health insurance. We might not always get back what we pay into those but if you need it, then you have it.
    The fact is we are all going to die someday. We just don’t know when. Having life insurance in place gives you peace of mind for the what if’s in life.

    PS. To those that are upset at the links to a life insurance company. Get over yourself! Of course they will have a link to a suggestion in an article about life insurance. Hip2Save offers tons of great advice and savings but have to earn a living to get it to us

  18. kcfrugal

    As an independent broker/agent, here is what I usually suggest. 1. get a 30 years term life insurance in early 20-30 (while healthy and young to cover your mortgage, children future expense, and cost of living min. 5 years of annual gross income) And please make sure that it has “Living Benefits” which will give you a temporary cushion, should you suddenly get stroke, heart attack, or cancer to cover the living expense while you recover. And rest of money, you need to start investing (not bitcoins/ something that is backed by the gov’t for a long term) 2. in later 30-50, still get a life insurance with a living benefits and invest into Traditional or Roth IRA. 3. 50-65 at this time life insurance will cost a lot (mostly it is to cover the funeral expense) 4. at any time when you have purchased a Term insurance, as soon as possible you want to convert it into Universal or Whole life. But most importantly, please seek an independent agent/ broker with many years experience to go through a “Need Analysis” and I recommend to review all your insurance every two-three years. FYI, there are two kind of agent. One is captive, they only sell one company they represent. Other is Independent agent/broker, who is contracted with many different company and can compare and cater to your specific needs.

    • Jessica (Hip Sidekick)

      Thanks so much for taking a moment to share your suggestions, kcfrugal! 🥰

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