Surprising stats about life insurance

September is Life Insurance Awareness Month

Life insurance can be a complex topic, so it may not surprise you that there are many misconceptions about it. Since September is Life Insurance Awareness Month, we thought we’d share some surprising statistics about life insurance from LifeHappens.org. Do any of these ring true for you?

  • 43% of Americans aren’t protecting their loved ones with life insurance.
  • 86% of Americans say they haven’t bought life insurance because it’s too expensive. And more than half of Americans think life insurance costs three times as much or more than it actually does.
  • 55% of millennials wish their partner would purchase more life insurance.
  • More people protect their “things” with insurance than protect their loved ones with life insurance.
    • Car: 79%
    • Home: 67%
    • Family: 55%
  • 65% of consumers with life insurance say they are able to enjoy life more knowing their loved ones are financially protected with life insurance.

There are several different types of life insurance that fit different needs. Whether you are single, married, starting a family, a parent or grandparent, life insurance is important for the loved ones you would leave behind.

For more information on the various types of life insurance, visit our life insurance page and contact your representative to discuss what may be best for you.

Remember: It’s not for you; it’s for them.

All statistics provided by LifeHappens.org.

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