Life insurance ownership in the U.S. has hit a 50-year low. Three in 10 households – about 35 million – carry no life insurance on anyone in the household, up from 24 million, or 22 percent of households in 2004.
By their own admission, half of U.S. households, or 58 million, have unmet life insurance needs. Even among households with $125,000 or more of annual income, one-fourth believe they are inadequately insured.
Reasons provided for delaying the purchase of life insurance were: They have other financial priorities right now, they think it is too expensive, they have difficulty making decisions about the purchase, and they just plain procrastinate.
Let's sit down and talk about options. Don't put your family in the position of wishing there had been (more) life insurance.
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