Life Insurance Quotes

Study looks in depth at life insurance ownership

08/31/11

The Life and Health Insurance Foundation for Education recently announced that September is Life Insurance Awareness Month, and many life insurance providers and agents are campaigning for awareness to help boost the industry, which suffered in the wake of the economic downturn but has seen recent gains. One poll of 2,500 U.S. residents delved into the personalities and value systems of people who do and do not have life insurance policies, and found that participation in life insurance policies is somewhat based on a person's understanding of benefits and the need for life insurance, according to National Underwriter.

The WellPoint study found that of the participants in the study, 31 percent said they simply didn't like to think about premature death, and didn't have any financial plan in place for the event of an untimely demise or debilitating illness or injury, according to the source.

A high number of respondants, 69 percent, said they thought about life insurance coverage, and half of these respondents indicated that they lacked the financial ability to care for their families in the event of a premature death.

According to a 2010 LIMRA study, 53 percent of Americans have some form of life insurance, but only one in three is covered by an individual life insurance policy, the lowest level in half a century, according to the Insurance Information Institute.

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