Affordable Term Life Insurance for Dads, Moms

Family Money

by Janis Brett Elspas, Editor

Mommy Blog Expert

MBE parternered with Responsival for this post

Term Life Insurance Important, Accessible to Families

As parents, we often spend so much time focused on just getting through each day, worrying about our family -- feeding the kids healthy meals, making sure they get to school and activities on time, taking care of their health and more, as well as balancing the family budget. But there’s another layer to family finance that often gets overlooked: term life insurance. 

An Important Discussion for Parents

Talking about life insurance may not be the most fun topic to chat about with your mom or dad friends group online or while waiting in the carpool lane at after school pickup. But when you have children depending on you, this is one of the most important ways you can protect your family. Term life insurance ensures that in the event that the unthinkable happens, your kids will be financially cared for --from keeping the roof over their heads to covering everyday expenses, college, and beyond. 

Here’s the part few parents realize: term life insurance cost is often much more affordable than you’d expect. On average for this type of insurance, an independent study shows that monthly premiums cost around $26, which is less per month than a couple of takeout dinners or a streaming subscription. 

Surprisingly Affordable for Families 

According to a recent analysis, it will cost approximately $300,000 to raise a child today from newborn to adulthood. When you consider how expensive raising kids already is (hello baby equipment, braces, sports fees, summer camps, and college savings accounts!), this small monthly cost to cover term life insurance can actually fit seamlessly into your overall household budget. 

Think of it as one more expense line item in your parenting toolkit -- just like groceries, gas, or extracurriculars -- but one that can provide peace of mind for the well-being of your kids. If you’re wondering where to find the extra dollars to cover the nominal cost of your term life insurance policy, you don’t need to stress. Making small but intentional adjustments in family lifestyle spending can easily provide you with the  savings needed to pay for this type of life insurance. 

5 Simple Ways to Free Up Money for Monthly Premiums 

Here are five realistic ideas parents everywhere can use: 

• Skip just one latte a week on your way to work. That’s about four fewer lattes a month -- easily enough to cover affordable policies. 
• Pack lunch instead of buying out once a week. Brown-bagging lunch savings can add up to $20–$40 monthly. 
• Cut back on unused subscriptions. Cancel that forgotten app, magazine, or duplicate streaming service and redirect those funds. 
• Opt for one at-home family movie night instead of going to the theater. Just one swap could cover nearly a month’s premium. 
• Plan meals smarter by using leftovers before food spoils. Reducing food waste by $10–$15 a week means you’re already ahead on covering the cost. 

Parenting, Peace of Mind, and Family Finance 

At its core, term term life insurance cost isn’t just about money—it’s about love, responsibility, and protecting what matters most. Parenting is already one of the biggest and most rewarding jobs in the world. Knowing your children will be taken care of financially, no matter what, is one of the greatest gifts you can give them. So, while getting term life insurance may feel like “one more thing” to think about and one more expense decision to make, the truth is that it’s a surprisingly small financial step that brings enormous peace of mind. 

With a little planning and a few lifestyle spending adjustments, you can easily fit term life insurance into your family budget. And in today’s world of ever-rising costs of raising kids, that’s one investment in your family’s future that’s well worth it.