Of consumers who believe they need life insurance, 86 percent haven’t bought it because they think it is too expensive. (Colleen’s daughter paid $12/per month, yet the policy proved invaluable at her untimely death.)
45 percent of Americans first learned about life insurance from a family member. Daughters were most likely to name their moms (21 percent) as their top source for first learning about life insurance, while sons are most likely to list their dads (22 percent).
More than 7 in 10 parents consider life insurance to be important (71 percent) and over three-fourths say it plays a role in their overall financial plan (78 percent), yet only 59 percent of parents would be likely to adjust their budget to purchase life insurance.www.lifehappens.org
While 4 in 10 households with children under 18 now include a mother who is either the sole or primary earner for her family yet, among women who have life insurance, their coverage is only 69 percent of the average coverage on men.www.statefarm.com
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One third of consumers experienced the death of a relative or close friend in the past 2 years, and are significantly more likely to be concerned about leaving dependents in a difficult financial situation if they were to die than those who didn’t have the experience.