September is Life Insurance Awareness Month . Even though I feel that every month should be the life awareness month for insurance, I embrace you all the chances to hit the drum about the most important man of the product ever created.
I will say, however, that the Life Insurance Awareness Month generally brings with it some interesting and compelling statistics. Here are three that caught my attention (and my concern!) This year:
(These figures come from the study of Barometer 2015 conducted by Insurance and Life Happens LIMRA.)
Troubling Stat # 1
Less than 3 in 5 (57%) have a kind of life insurance. 12% of Americans only have policies through their employers. If these people never leave this job, they may lose their coverage.
This is the lowest participation rate in this country has seen in 50 years! last I checked, the death rate has not changed (in other words, there are still 1-1 luck you will die!) ...
Troubling Stat # 2
If the primary wage earner died, 50% of US households would feel the financial impact in the year. In total, 43% would feel the crisis in six months or less.
Despite this, 56% of all Americans have absolutely no intention of buying a life insurance next year. Another 19% are "somewhat likely" to buy.
What's wrong with that?
Although most people seem to understand the importance of life insurance is that many of them continue to put others before financial decisions to protect their families. For example:
- 22% of people rank of daily leisure activities as a priority before purchasing a life insurance
- 49% admit that such expenses as the Internet, cable and cell phone bills are a higher priority for them than life insurance
My question is, what could be more important than protection your family?
Troubling Stat # 3
most consumers do not know how much life insurance costs :. 80% of respondents overestimated how much they would have to go through a significant amount
One of the main reasons people do not buy life insurance is because they think it will cost too expensive. But it is actually much more affordable than most people realize.
When asked how they thought that good health 30 years would pay for a 20-year $ 250,000 level term policy, they guessed $ 400 per year. About April 1 guessed it would cost at least $ 1,000 a year! In fact, the cost would be about $ 0 per year.
What you gonna do?
If anyone depends on you financially, you probably need life insurance.
If you are afraid that it will cost too much to get the right amount of coverage, now is the perfect time to find out exactly how much you'll have to pay. There is a 80% probability, it is much cheaper than you think!
It will not cost you a dime to find out how affordable life insurance can be for you. Click here for a free quote. Or if you prefer to speak to a live person, call us at 800-442-9899.
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