Myths About Life Insurance – Myth #4: “I Can’t Afford Life Insurance”

Financial Horizons: Insights for Building Wealth and Securing Your Legacy

By Dr. Jose G. Cardenas, Chief Tax Strategist at The C & R Group, LLC

Let’s clear the air on one of the most common financial misconceptions out there — “Life insurance is too expensive.”

The truth? For most people, life insurance is far more affordable than they think. What’s really expensive is not having protection when your family needs it most.

1. The Real Cost: Pennies on the Dollar for Peace of Mind

According to industry data, more than half of Americans overestimate the cost of life insurance by three times. Many assume coverage costs hundreds per month — when in reality, a healthy 30-year-old can get a substantial policy for less than the cost of a daily cup of coffee. ☕

That’s right. For the price of one fast-food meal, you could secure your family’s financial future.

Life insurance isn’t a luxury. It’s a necessity — and one that scales to your budget.

2. Custom Plans Built Around Your Finances

At The C & R Group, LLC, we specialize in tailoring coverage that fits your budget and goals — not the other way around.

Whether you’re just starting out, building a family, or running a business, there are flexible options to fit your financial plan. Indexed Universal Life (IUL) policies, for example, not only provide protection but also allow your money to grow tax-deferred — giving you a powerful way to build wealth while protecting it.

That’s smart money at work. 

3. The Bigger Picture: What Happens Without It?

It’s easy to dismiss life insurance as a “someday” purchase — until that day comes unexpectedly.
Without coverage, your loved ones could face:

• Outstanding debts
• Mortgage payments
• Funeral costs
• Loss of income
  

Tax burdens on inherited assetsThe cost of doing nothing is far greater than the cost of being prepared.

4. Life Insurance as an Investment Tool

Modern policies aren’t just about death benefits — they’re living financial tools. With an IUL, part of your premium goes toward building tax-free wealth you can use while you’re alive.

That money can fund your retirement, pay for your child’s education, or serve as a tax-advantaged emergency reserve.

It’s not about what life insurance “costs.” It’s about what it creates — security, freedom, and long-term stability.

The Bottom Line

If you think you can’t afford life insurance, you may be overestimating the price — and underestimating the value.

The right policy protects your family, grows your wealth, and provides peace of mind that no market downturn or medical emergency can take away.

👉 Read more financial insights: www.thecrgroupllc.com/blog
📅 Schedule your personalized consultation: Book a consultation with Dr. Cardenas

About the Author
Dr. Jose G. Cardenas is a retired U.S. Army Finance Officer and the Chief Tax Strategist at The C & R Group, LLC. With a Doctorate in Business Administration and over 20 years of experience in financial strategy, tax planning, and life insurance, Dr. Cardenas helps individuals and business owners protect their wealth and build a legacy. Learn more at www.thecrgroupllc.com.

📌 Disclosure
This article is for educational and informational purposes only and is not intended to serve as personalized legal or investment advice. Dr. Jose G. Cardenas, DBA, provides tax advisory services through The C & R Group, LLC. Insurance strategies, including Indexed Universal Life (IUL) and annuity products, may be offered through his role as a licensed financial professional affiliated with Experior Financial Group.

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