Recent statistics show that most Americans have little or no life insurance. As Life Insurance Awareness Month approaches, you should be more aware of these stats.
I wanted to take some time to share with you some interesting insurance statistics. While reading them, think about your own situation. Are you underinsured? What would your family do if the unthinkable were to happen. Some of facts from LIMRA International for Life Insurance Awareness Month.
Millions of Americans have no coverage.
- Only 61 percent of adult Americans have any coverage, a decline from 70 percent in 1984.
- Only 41 percent of adult Americans have coverage. Many rely on group insurance, leaving them vulnerable if they lose a job.
Most people who have insurance coverage don’t have enough.
- The average life policy need is about $459,000, but the average policy owned is $126,000. The average underinsurance is more than $300,000.
Everybody needs life insurance. It turns pennies into dollars when your family needs it most.
Since this is Life Insurance Awareness Month, it’s nice to raise awareness for the most important product mankind ever invented. But the fact is, if we are only thinking getting a policy one month out of every year, we’re in trouble. WE need to raise awareness on this issue every day of the year.