You've probably seen a few commercials for life insurance on TV. They either have cute animated characters or pictures of happy couples driving along California's Highway 1 while the sun sets in a blazing golden glow. They paint a pretty picture, but what do they actually tell you about life insurance?
We're here to change that. Here are a few basic life insurance statistics that the commercials don't tell you:
|In 2010, 70% of American families owned some type of life insurance.|
|Families use life insurance to pay for burials, funeral costs, and the day-to-day expenses of running a household after the insured person passes away. If your family has one breadwinner, for example, life insurance could help replace that paycheck so you don't have to worry about where to find money to pay the mortgage.|
|More than half of America's Gen X and Gen Y households need more life insurance.|
|Gen X and Y include about 30 million people, and most of them are dramatically underinsured.|
|7 in 10 women believe life insurance is a necessity and all people should have it.|
|Surprisingly, only about 6 out of 10 men agree—we think these women have the right idea. They're thinking ahead about things like paying off a mortgage, sending children to college, and leaving a legacy that supports their families through a tough time.|
|33% of wives have no life insurance at all, despite the fact that many households are dual-income and almost 1/3 of women earn more than their husbands.|
|Many families don't think to insure stay-at-home moms or dads, or even parents who work part-time. But guess what? Their contributions to the family are extremely valuable, too!|
You probably still have questions about life insurance, but these facts should tell you that you're onto something good here. Life insurance is a great way to provide peace of mind for yourself and financial security for the ones you love.
It's also a fantastic estate planning tool, if you know how to use it to lower the value of your estate.
Trusted Quote lets you see quotes from the nation's top life insurance providers instantly. You get quotes, right away, with absolutely no obligation to buy. If, at any point, you have questions, contact one of our awesome insurance advisors via Live Chat or call us at 800-823-4852.
With one click, you'll have the best rates from the most prestigious carriers at your fingertips.
We've helped more than half a million families get coverage over the past 40 years...are you next?
LIMRA: Life Insurance Awareness Month, 2012
ACLI: Life Insurance