Estimated cost of life insurance in the U.S. 2020, by generation
Half of American Millennials believed that term life insurance cost one thousand U.S. dollars or more per year in 20120, whereas only 28 percent of non-Millennials said the same. The average cost of such a policy is about 160 U.S. dollars annually, according to the source, which shows that many Americans, especially Millennials, overestimate the cost of term life insurance.
