Interesting Facts About Life Insurance

by Michael on December 1, 2010

in Final Expense,Funeral Insurance,life insurance,Retirement,Uncategorized

A 2010 study from a worldwide research and consulting firm serving the insurance industry found in
a recent study that life insurance needs are higher than they’ve been in the past 50 years!
  • 4 in 10 US Households with children would have immediate trouble paying bills if the primary breadwinner died today.
  • Only 44 percent of households have individual life insurance.
  • Today 30 percent of households (35 million) have no coverage (compared to 22 percent in 2004).
  • Half the households feel they need more life insurance – the highest level ever.
  • 24 percent of households with children under 18 want to speak with a financial professional about their life insurance needs.
  • One quarter of all households plan to buy life insurance in the next year.
  • One third of households  with over $100,000 income say they do not have enough coverage.
Here’s perhaps the most interesting thing revealed in this study. Almost 8 in 10 American households currently do not have a personal life insurance agent or broker to turn to and most of them say they never did.
  • Having a personal life insurance agent can reap huge rewards. We get to know you and what your needs are. Which company and which product a person chooses should be based on what their need is.
  • For instance, the top two reasons Americans buy life insurance is to cover burial and final expenses, and to replace the income of primary wage earners. Those reasons necessitate a different solution than someone in business hoping to protect the business or someone planning for college for their children or retirement for themselves.

I am here to help you. Ask me any questions you may have, and I will provide you with the information you seek. You will likely find that the information is different than you may have imagined. I’m here to help …

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