Did you know that September is Life Insurance Awareness Month? To kick things off, here are a few stats about life insurance.
- The reasons people get life insurance, in descending order, are final expenses, income replacement and paying the mortgage.
- 70{66506b27ca8f5234034d808fc0aabc14bc16ceb45d71027974b073b60f711cfe} of American households with kids would have trouble keeping up with their everyday expenses if they primary wage earner were to die.
- 85{66506b27ca8f5234034d808fc0aabc14bc16ceb45d71027974b073b60f711cfe} of people think that life insurance is important to have, but only 62{66506b27ca8f5234034d808fc0aabc14bc16ceb45d71027974b073b60f711cfe} have it.
- 83{66506b27ca8f5234034d808fc0aabc14bc16ceb45d71027974b073b60f711cfe} of Americans don’t have as much life insurance as they think they should, and yet they think it costs three times more than it actually does.
- 40{66506b27ca8f5234034d808fc0aabc14bc16ceb45d71027974b073b60f711cfe} of Americans who do have life insurance don’t think they have enough.
- Life insurance ranks as the seventh most important financial priority.
- People worry less about life insurance as their household income increases.
- 20{66506b27ca8f5234034d808fc0aabc14bc16ceb45d71027974b073b60f711cfe} of people wish their significant other had life insurance.
- 72{66506b27ca8f5234034d808fc0aabc14bc16ceb45d71027974b073b60f711cfe} of Americans had life insurance in 1960. In 2010 that number had dropped to 44{66506b27ca8f5234034d808fc0aabc14bc16ceb45d71027974b073b60f711cfe}.
Check back next week for more information on life insurance during 2015’s Life Insurance Awareness Month. In the meantime, if you want more information or to discuss how we can help you with life insurance, click here.