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Life Insurance Procrastination & Its Consequences

Depending on Your Age, Life Insurance Quoting Rates Can Increase by 3.5 to 9% Each Year!

Life insurance procrastination is always very costly when people fail to apply by sluffing it off. When it comes to buying life insurance, time is money. So the question of why people procrastinate when considering purchasing life insurance has been a subject of interest since lifelife insurance procrastination insurance was first introduced.

According to modern statistics, over 67% of life insurance shoppers consume months of their time kicking the proverbial tin can around and never apply. In many cases, they may finally decide to apply after a friend or family member’s death gives them a final push to pull the trigger and apply.

The longer a person waits to apply, the more costly a new policy will be. We will review these reasons and find solutions to this common problem, so please read on.


Why Do People Procrastinate When Considering Applying for Life Insurance? These are the Most Common Reasons:

1. Many Americans Fear Working With Agents & Brokers

A typical negative experience with car salesmen first creates this phobia concerning all salespeople. 

This may sound a little intense, but most people generally fear salespeople. If you walk into a big room where a partyindependent life insurance agents is being held with fifty people, for example, and you are informed that a life insurance agent and a police officer are in that crowd, who would you walk up and talk to? It certainly would not be the insurance agent or the police officer.

People have a natural fear of most salespeople before even giving them a chance to know them. In this case, the guests at the party would worry about the insurance agent trying to sell them insurance. The police officer would try to find some reason to investigate them for a possible crime they may have committed.

Not everyone thinks this way, but many do. This is a shame because this country has thousands of knowledgeable and ethical insurance agents who will provide respect and excellent service.


Normally, consumers receive their first negative experience with salespeople when they step into a car dealership showroom. Before they can say a word, the vultures start swarming like flies, and the fear of salespeople begins.

2. Confusion With Plan Designs and Options

An insurance agent’s job is to educate clients and answer all their questions. An applicant should always fully understand what they are applying for.

It is easy to become confused with all the various well-known life insurance companies and policy designs available. Knowledge of all the top companies and what type of insurance to buy is virtually impossible unless you work with these products daily. This is where independent insurance agents come into the equation.

They can analyze individual needs and budgets and recommend an excellent product to fit their client’s needs quickly and easily. The insurance agent will perform most of the work in applying for term life insurance. Normally the applicant has to answer basic life insurance application questions.


3. The Idea of Adding Another Monthly Expense

The key is to purchase life insurance with a premium you can easily afford, and paying your premium should never be a financial burden.

Many people procrastinate when contemplating the purchase of a new policy because they don’t know if it will fit intoprocrastination causes premiums to increase their monthly budget of rising expenses due to inflation. The main concept to remember is to purchase what you can comfortably afford, not just how much life insurance you think you may need.

Life insurance “needs calculators” often generate a number recommended to cover all your expenses if you pass away. Most of the time, this will be much higher than what you can safely afford each month. You can view instant life insurance quotes with our quote engine to see for yourself.

The longer you put off buying life insurance, the higher the cost will be. If a severe health condition becomes evident, your chances of buying a new policy may become impossible due to a decline by the underwriting department that reviews your application.


4. Inflation and a Brutal Economy

A terrible economy can make purchasing just about anything complicated; all you can do is purchase what you can afford so your family has some financial protection. You can always increase your coverage at a later date.

Whatever you are trying to purchase in 2022 while this blog post is written will be a challenge with the horrendouspurchasing life insurance in a terrible economy economy and massive inflation we are forced to live with. With no end in sight, everyone is financially strangled by high prices, from gasoline to food on our table.

You can now apply to a carrier with the lowest rates and only apply for a face amount and a term period that will produce premiums you can afford. The shorter the term period, the lower the premiums. The same holds for the face amount, otherwise known as the death benefit. The lower the face amount, the lower the premiums. Being a little underinsured is better than not having any life insurance.


5. I Probably Will Be Declined Due to My Medical Conditions

Many worry about being declined or their rates increasing due to their medical condition. We use life insurance companies that are the most health-friendly for whatever conditions you may have. 

People will often believe before even talking to an agent that they will probably fail to qualify for coverage due to pre-medical conditions and life insuranceexisting medical conditions. Most of the time, these people can be covered and have very affordable premiums.

We work with over 40 life insurance companies and choose the most applicable insurer to fit an applicant’s medical condition. It is human nature to worry about something without consulting a professional. 

This holds for people with hazardous occupations and dangerous sports, which can increase a policy premium. Our service to our clients offers free 5-minute medical pre-screens, taking all the guesswork trying to guess at a premium or what health classification an applicant will be placed in.


6. Life Insurance Is Just for Older People, Isn’t It?

Life insurance is for anyone with financial obligations, regardless of their age. Purchasing life insurance at a young age is dirt cheap compared to what people pay who are in their fifties and sixties because of dragging their feet.

Life insurance is important for a person of any age if they have financial obligations, someone else will inherit if they die. This would include any financial liabilities such as mortgages, car loans, credit card debt, college tuition, and even an inheritance tax. Many people make a common mistake by waiting and eventually applying for life insurance in their sixties and seventies, when the premiums are very high and at a time when medical conditions appear as they get older.

At this point, buying life insurance could become impossible, and the cost may be more than they could afford. Buying life insurance in your twenties or thirties could be the best decision if you want very low premiums. I see people trying to scramble to buy affordable life insurance every day after waiting far too long. At this point, many get frustrated, give up on the idea, and then leave the grief to their dependents after dying.


7. I Don’t Like Thinking About My Death

Our death can come anytime if we are young, old, healthy, or very sick. Unfortunately, we have no control over it and must accept it as a part of life.

Most people do not like thinking about death, but unless you find a way to stay alive forever, you should think aboutlife insurance procrastination excuses it sooner rather than later. If you want to think about it later, you may find yourself joining the statistics of men and women dying before they saw 40 years of age, which is 31%.

Many people who drag their feet buying life insurance will pass on their debt and financial burdens to their dependents. It is possible that your dependents already have enough financial debt without adding any more.

Americans are mostly credit monsters who keep burying themselves with credit card debt, and the statistics worsen yearly. The number of people filing for bankruptcy today is rising like a rocket. A hideous economy is one of the reasons for the rising number of bankruptcies.


8. I Am Young & Healthy; Do I Still Need Life Insurance?

Young people with financial obligations can experience health issues and fatal accidents, especially in our violent country. Purchasing life insurance when you are young will reward extremely low premiums.

Anyone who states they are young and healthy and do not need life insurance knows this is a very poor excuse. A severeyoung people need life insurance too medical condition or accident can trigger death at any age. If a person is young and healthy, now is the time to buy life insurance which will be available at an extremely low cost. Life insurance is dirt cheap if you are young and in good health.

Unfortunately, about everyone starts young and healthy and never gives it a second thought. But as the calendar pages start turning, your youth and beauty will eventually become a memory. The natural aging process is what everyone has to learn to deal with, but just like they say, you are only as young as you feel.


9. I Don’t Like Taking Medical Exams!

This is where No Medical Exam life insurance comes in. Physical exams and visits from a nurse are eliminated.

I don’t know anyone that likes taking medical exams either. This is another classic excuse some people use. They will go to their doctor’s office for annual exams, but they don’t like taking medical exams if it is related to applying for life insurance. This may be true for some people; if it is, they can apply for no medical exam life insurance, eliminating the need for a medical exam or a blood test.


10. Not Understanding the Consequences

Surviving spouses and children can face a terrible future with the family income coming to an immediate stop which could have been easily prevented with the purchase of low-cost term life insurance.

Many people don’t fully understand what will happen to their families if they have financial obligations and don’t haveconsequences of not having life insurance an affordable life insurance policy to cover their debt. The impact on dependents can easily change the course of their lives forever. 

I am sure we have all seen a family that had the loss of their husband and father and did not have any life insurance to keep the family living in their usual way of life after the death of their loved one. The result can be devastating; the bad part is that it’s too late to do anything about it.

The following four expenses hit hard and fast and are the most terrifying to a family that has just lost their father, who is usually the breadwinner in the family.

Home Mortgages: 

Approximately 65% of American homeowners have a hefty mortgage to pay each month, come rain or shine. If the homeowner dies without sufficient coverage to cover the mortgage payments, the lending institution will foreclose on the mortgage, and the dependents will be forced to leave their home.

This creates severe mental hardship for the family, especially young children. This type of tragedy can leave a mental scare, branding the children for the rest of their lives. The transition to a new and cheaper place to live will usually be a significant step down in the quality of their lives.

Car Loan Payments:

The statistics show that 38% of young families have two car payments, one each for both spouses. Today’s car payment averages over $400.00 per month. Like home mortgages, if the payments are not made, the loan company will be right around the corner, ready to repo the vehicles.

If the breadwinner dies without life insurance, his or her family could lose their home and vehicles within sixty to ninety days. This mental impact would be very hard to accept, especially after one parent’s untimely death.

Childcare Expenses:

Anyone with kids will quickly understand how many expenses come with caring for children. Everything from clothing, medical care, food, school-related expenses, cell phones, and allowances. Expenses never end, and the cost keeps rising, especially in today’s brutal inflationary market.

College Tuition:

College tuition with a severe cash flow problem usually means no college education period unless a son or daughter is smart enough to get a scholarship. They may have to attend a local Junior College, but a complete education at a major university is usually out of the question. 

In the most recent studies, 38% of people that shopped for life insurance for at least six months, but never applied honestly stated they would have no problem or remorse in allowing their survivors to bear their financial burdens after they died.

How to Purchase Affordable Life Insurance in This Horrific Economy

This is just a band-aid solution that can help you purchase good low-cost life insurance protection in a high-inflation and recession-type market.

Every day, Americans get brutalized with suffocating expenses such as gas, food, rent, and many otherbuying life insurance in high inflation times necessities, much less if you take on another expense, such as life insurance.

The best way to buy the coverage you need to protect your family is to buy low-cost term life insurance and apply for a shorter term, such as five or ten years. You may need a twenty-year term policy or longer, but your dependents will be at risk if you cannot afford it.

You can always re-apply if and when the economy ever improves and apply for a longer-term period. This is not what I would typically recommend to people. Still, our country is in a very bad way, and this will be a decent solution to get you out of trouble and get your family members’ financial future protected.


In Conclusion

If you need life insurance, apply as soon as possible, so you don’t have to pay more than you have to. Waiting willaffordable life insurance only increase your premiums when you finally do decide to apply. We represent over forty of the most competitive life insurance companies, and we can easily guarantee you will get the lowest rates you can qualify for. We are available seven days a week to answer your questions.

All the best,
Jack Venturi


If you have any questions concerning life insurance, contact us today, and we will help you without any cost or obligation. Remember that we are brokers and work for our clients, not insurance companies. Our mission is to help you get approved at the lowest rates. You can also set up a time at your convenience to talk.  


Jack Venturi Independent Life Insurance Agent

Jack Venturi

Independent agent and founder of

Jack Venturi has over 30 years of experience selling individual and commercial insurance including Property & Casualty, Health, Disability and Life insurance. Jack has helped thousands of people all across the United States purchase the best life insurance products at the lowest possible premiums over the phone (708)-334-6226 and online.

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