The Underwriter’s Corner: Underwriting Q & A
Current News: New Study Says 40% of U.S. Adults Don’t Have or Don’t Know If They Have Life Insurance
Employee benefits provider Unum finds that 38% of U.S. adults rate their ability to manage finances as average, poor, or very poor. An additional 40% of respondents say they don’t have or don’t know if they have a life insurance policy.
These findings and more are part of an online poll of 1,000 U.S. adults conducted by Unum in August of this year.
35% say thinking about what would happen to their family should they die unexpectedly was a top cause of anxiety; only going to the dentist (40%) rated higher.
If the family’s primary wage earner were to die unexpectedly, 32% of those in their prime working years (25-64) would feel the financial impact within a month.
The most important reason for having a life insurance policy is to financially protect loved ones. If they count on the primary wage-earner’s income or other financial resources, life insurance helps assure they’re covered if that individual passes away.
It can also cover funeral expenses, pay off debt, pay estate taxes and for things like a child’s education, student loans, or a home mortgage.
(Source: Marietta Daily Journal)