Why Fathers Overlook Life Insurance (and What It Costs Their Families)
June 16, 2026
It’s Father’s Day, which means it’s a good time for dads everywhere to reflect on the most important financial decisions they’ll ever make for their family. For millions of dads, it isn’t having a college fund or a mortgage — it’s actually whether they have life insurance.
You may be wondering if it’s too late, but it’s not. Even if you haven’t gotten around to thinking about life insurance until now, you still have time. Read on for answers to common questions, including why you really need it, how much coverage is enough, and what happens to your family if you die without a policy.
The Coverage Gap Nobody Talks About
According to LIMRA, millions of American households are underinsured or have no life insurance. In fact, 40% of American adults think they need more life insurance. Men, despite being more likely to carry coverage than women, still fall well short of what their families actually need.
Why the gap in coverage? One of the top two reasons why people procrastinate buying life insurance is that they think it’s too expensive to buy. It’s a common misperception, according to Life Happens. Most people think life insurance costs three times more than it actually does. But if you’re young and healthy, life insurance is more affordable than you think.
The problem, however, isn’t just being uninsured. If you’re underinsured, meaning you don’t have enough, your family will be left scrambling if you die.
Case in point: A small policy taken out 15 years ago, before kids entered the picture, can no longer meet your household's actual financial needs. When you take into account a higher income level, a mortgage, or even a business, you can see how the original amount is simply no longer enough.
Luckily, there’s an easy way to make sure your family is protected — no matter what life throws your way.
Why Fathers Put It Off — and Why Those Reasons Don’t Hold Up
There are several common reasons why men tend to put off purchasing life insurance:
- “I’ll get to it eventually.” Procrastination is very real. But before you know it, 15 years have flown by. So the next time the idea of life insurance crosses your mind, remember that it’s cheaper the younger and healthier you are. Every year of delay can mean higher premiums — or worse, a health change that affects eligibility.
- “The insurance from my employer covers me.” Group life insurance through an employer provides a coverage amount that’s typically only one to two times your annual salary — a fraction of what most families need. Worse, it disappears the moment the job does.
- “I don’t want to think about dying.” While it’s easy to fall into this line of thinking, we suggest a slightly more optimistic reframe. Buying life insurance isn’t really about dying; rather, it’s about making sure the people you love can keep on living — in their home, in their school, in their life — if something happens to you.
- “We can’t afford it right now.” You may think that, but it pays to take a closer look. Term life insurance, in particular, can be surprisingly affordable. The real question is whether your family can afford not to have it.
What Does It Actually Cost a Family When Dad Isn’t Covered?
Have you ever wondered: What happens to my family if I die without life insurance? Imagine the following:
If a father earning a median household income dies without coverage, his family may face years of financial hardship — including lost mortgage payments, reduced college savings, and depleted emergency funds.
In addition, with the primary earner’s contribution missing, it can be more difficult to cover essential costs such as childcare, transportation, household management, and more.
Lastly, while losing a parent is devastating, losing a parent and financial stability at the same time becomes a compounding trauma. While life insurance can’t eliminate grief, it can smooth over one of the most destabilizing consequences of it.
1891 Financial Life’s life insurance products — including both term and permanent options — are designed to provide exactly this kind of protection for families.
How Much Life Insurance Does a Father Actually Need?
Life insurance is not a one-size-fits-all product, so think about your unique scenario to find the best policy for you.
A common rule of thumb is 10 to 12 times your annual income, although your actual needs may vary based on debt, number of dependents, existing assets, and income replacement goals.
Also, take into account your mortgage balance, how many years until the kids are financially independent, your spouse’s income and earning potential, your savings, and other debts.
Next, think about whether term or permanent coverage fits your family best. Term is straightforward income replacement for a defined period; permanent coverage offers lifelong protection and can include a cash value component. Both options are worth considering depending on the family’s situation.
For a quick and easy estimate of how much coverage you might need, try 1891 Financial Life’s life insurance calculator. It’s a great place to start — just make sure you follow up with a trusted financial advisor who can help you finalize the amount.
The Best Thing a Father Can Do This June
Special occasions like Father’s Day remind us to celebrate the people who show up for us every day. Life insurance is one way a father can continue caring for his loved ones, no matter what the future holds. Even if you’ve been putting it off, there’s still time to get started.
1891 Financial Life is here to help you protect what matters most. We specialize in providing tailored insurance solutions that cater to diverse needs. Our team is equipped to help you navigate these challenges with expertise and compassion. Contact us today for personalized assistance and to explore your life insurance options.
FAQ About Life Insurance
Am I too young to think about life insurance?
You’re never too young. In fact, policies are typically more affordable and flexible when a person is young and in good health. Keep in mind you can add additional coverage later as your family evolves.
When is the best time to buy life insurance?
The best time to purchase life insurance is before you need it. The second best time to buy a policy is right now.
Is life insurance only for parents with young children?
No. Not everyone who benefits from life insurance has kids. A policy can also be helpful for those managing spouses, adult children, caregivers, elderly parents, and the like.
About the Author
Thomas Adamson, CLU, ChFC, FICF, AMTC, CFFM
Thomas Adamson launched his insurance career in 1968 with New York Life and developed skills in management, marketing, recruiting, training, and development of new and experienced agents. Tom managed a number of agencies composed of 40-50 producers and was the recipient of the Career Development Award on many occasions. As an Associate General Agent for John Hancock Mutual Insurance Company, he spearheaded the development of its Long Term Care Insurance Unit in Illinois. He also served as Chairman of the Education Committee for the General Managers and Agents Association.
Tom has been involved in fraternal Home Office Sales, Marketing, Product Development, and Training for the last 20 years. He truly appreciates the opportunity to blend his faith with his profession. He has been an advocate for the agent in the Home Office and brings a unique perspective to marketing and product development. Tom is also involved in philanthropic efforts and community-based activities; as a dedicated parent and grandparent, it has been his passion to volunteer on behalf of children.
Tom’s mission is to “provide an environment for agents to successfully design insurance plans that give our clients and members the financial peace of mind they deserve.”
About 1891 Financial Life
Our culture is about looking out for you, for others, for family, for the community. That is how we go “Beyond Life Insurance.”
At 1891 Financial Life, we don’t just sell policies, we offer possibilities. We take pride in giving back to the communities we serve by providing quality and comprehensive insurance solutions. We are a not-for-profit life insurance Society, which means the sales from these financial service products help fund member benefits, along with social, educational, and volunteer programs designed to respond to community needs. Our commitment to excellence has been recognized by Forbes, naming 1891 Financial Life among “The World’s Best Life Insurance Companies” in 2023 — and for the second time, as one of “America’s Best Life Insurance Companies,” ranking #1 in Term Life Insurance for 2026.
Our portfolio is extensive, ranging from various life insurance policies to our annuities to support your financial needs, no matter what stage of life you’re in.