Monday, December 15, 2014

How Americans review Life Insurance

How Americans review Life Insurance

How Americans review Life Insurance

How Americans review Life Insurance may differ from person to person, for 4 years in a row LIMRA have been analyzing your attitudes on life insurance, retirement planing and your financial wealth.
  • How would you rate your financial wealth?
  • What are your thoughts on retirement?
  • Do you own a life insurance policy?
  • Why or why not?
Here are some statistics about How Americans review Life Insurance:
  • 65% of Americans agree that they probably need some type of life insurance and 27% said they need more than what they already have.
  • 31% said they felt the financial impact from the death of the family member within 1 month.
  • 52% between the ages of 25-34 are extremely concerned about not having enough money for retirement.
  • 47% between the ages of 35-44 are also very concerned about not having enough money for retirement.
  • 80% of Americans overestimate the cost of life insurance.
  • Those under the age of 25 overestimate the cost of life insurance by 10 times.
  • 59% haven’t bought life insurance or more of it because they have “other financial priorities.”
  • Financial priorities: 52% put expenses such as cable or mobil phone ahead of buying life insurance.
  • Financial priorities: 1 in 5 pay for activities like eating out in a restaurant over buying life insurance.
  • 24% haven’t bought any life insurance because “no one has approached them.”
How Americans review Life Insurance







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