Life insurance has many ins and outs, which can lead to a lot of misconceptions. So instead of letting a lack of understanding leave your family unprotected, uncover the facts behind some of the most common life insurance myths:


While a stay-at-home parent may not earn a paycheck, they still bring significant value to the home. Life insurance for a spouse who isn’t working can help offset the cost of hiring someone to take over their tasks, such as child care, transportation, home maintenance and more.



Saving for your future is a cornerstone of smart financial planning, but don’t make the mistake of looking at life insurance as secondary to your primary investments. According to a 2018 survey, 61% of people said that other financial priorities were a reason not to buy life insurance. Instead, make life insurance part of your plan, too, so you can retire comfortably and ensure your loved ones are protected.



Student loans can feel like an endless burden, but make sure they don’t become a burden to your loved ones. The average college graduate with loans leaves school with about $29,000 in debt.* Life insurance may help keep that from becoming an extra weight on your loved ones.


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Even when your kids have left the nest, life insurance can still provide valuable assistance. Any outstanding debts you have can be passed on to your loved ones, or the inheritance you’re leaving behind can be lessened by estate taxes. Life insurance can help cover those costs.



Except in the case of severe or terminal illness, you can likely get coverage regardless of health or age. Conditions like diabetes or high cholesterol may bring higher premiums, but the benefits can still outweigh the cost.

Illustrations by Andrew Roberts

Get the Right Coverage

Talk to our life insurance specialists for help finding a life insurance policy that meets your needs.

*“Student Debt and the Class of 2017,” The Institute for College Access & Success, 2018.

Life insurance underwritten and annuities offered by our affiliate, AAA Life Insurance Company, Livonia, MI. AAA Life is licensed in all states except NY. ALMI-25906-819-XX

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