![\"Kiruba](\"https:\/\/www.newsbeep.com\/us-tx\/wp-content\/uploads\/2026\/08\/e3ad8833-344b-4971-892d-f2c51a0b0c15-IMG_4819.JPG\")
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Kiruba Shankar Eswaran, CEO of Eleos Life, joined \u201cWe Are Austin\u201d to break down why so many people delay getting coverage, what families should understand about the limits of government safety nets, and how to find an option that fits a budget.<\/p>\n
Why People Delay Buying Life Insurance<\/p>\n
According to Eswaran, there are three common reasons people wait to purchase life insurance.<\/p>\n
The first is cost.<\/p>\n
\u201cPeople think it is expensive,\u201d Eswaran said. \u201cIn reality, it is not. People overestimate it by three or four times more than what it actually is.\u201d<\/p>\n
The second is what he describes as choice paralysis.<\/p>\n
With options like term life and whole life insurance, many consumers become overwhelmed trying to determine which policy best fits their needs.<\/p>\n
Finally, there’s what experts call optimism bias.<\/p>\n
\u201cPeople think they’re healthy,\u201d Eswaran said. \u201cThey think it won’t happen to them.\u201d<\/p>\n
Government Benefits May Not Be Enough<\/p>\n
Some families assume Social Security survivor benefits will provide enough financial support after the loss of a loved one.<\/p>\n
The reality, according to Eswaran, is that those benefits are often limited and may not be enough to replace lost income or maintain a household’s lifestyle.<\/p>\n
That’s why financial planning experts encourage families to have their own protection plan in place.<\/p>\n
![\"Kiruba](\"https:\/\/www.newsbeep.com\/us-tx\/wp-content\/uploads\/2026\/08\/5bf96265-0713-4fe8-95f8-93ec3a768c06-IMG_4826.JPG\")
<\/p>\n
Kiruba Shankar Eswaran, CEO of Eleos Life, joined \u201cWe Are Austin\u201d to break down why so many people delay getting coverage, what families should understand about the limits of government safety nets, and how to find an option that fits a budget.<\/p>\n
Who Should Consider Life Insurance?<\/p>\n
Life insurance isn’t just for homeowners or high-income earners.<\/p>\n
Eswaran says it can benefit anyone whose household depends on their income.<\/p>\n
\u201cAnyone who earns an income and the household relies on that income,\u201d he said.<\/p>\n
He also emphasized that caregivers, including stay-at-home parents, should be considered.<\/p>\n
\u201cIf they’re not in the equation, you need to pay for someone to take care of the kids,\u201d Eswaran explained.<\/p>\n
Starting With Term Life Insurance<\/p>\n
For families concerned about affordability, Eswaran recommends exploring term life insurance as a starting point.<\/p>\n
Term policies generally provide coverage for a set period and typically cost significantly less than permanent life insurance.<\/p>\n
\u201cIt’s better to take it out when you’re young,\u201d Eswaran said. \u201cLife insurance goes up as you get older or develop medical conditions.\u201d<\/p>\n
Policies can also be customized to fit different financial needs, allowing families to choose coverage amounts that work within their budgets.<\/p>\n
Making the Process Easier<\/p>\n
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