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The life insurance industry is having its best run in years. New premiums climbed 10% year over year in early 2026, continuing a streak of record-setting sales. And yet, nearly half of all American adults, roughly 102 million people, remain uninsured or underinsured.

That paradox says something important about who the industry is reaching, and who it isn't.

The most common reason people go without coverage isn't indifference. It's a set of persistent misconceptions. The biggest one is cost. Research consistently shows that consumers overestimate life insurance premiums by three to six times the actual rates. A healthy 30-year-old can often purchase $500,000 in term coverage for less than $30 a month. Many people assume it's several times that.

A second misconception is that employer-provided coverage is enough. Group life insurance, which is typically one to two times your salary, is a valuable benefit, but it usually doesn't travel with you when you leave a job, and it rarely covers the full financial exposure of a family with a mortgage, dependents, and debt.

Then there's complexity. Term versus whole. Universal versus indexed. Riders and underwriting and health questions. Many people mean to figure it out "eventually" — and eventually keeps moving.

The cost of waiting is real. Life insurance premiums are tied to age and health. A policy purchased today will almost always cost less than the same policy purchased five years from now. A health change between now and then could affect eligibility entirely.

Record sales are good news for the industry. But they don't close the gap on their own. If you've been meaning to get covered or review whether your current coverage is adequate, the best time to act is before circumstances make the decision for you.