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What You Need to Know About Life Insurance

What You Need to Know - ..... about LIFE INSURANCE Stats that tell the story 93% 63% 50% Of adults have life Of Americans think life Insurance is necessary. Of them do not have adequate coverage. Insurance. 3 in 10 American households are uninsured 1/5 4 10 Of husbands don't Women have no life own life insurance. insurance coverage 1/3 10 Of wives own no life insurance at all. Women ages 18 to 24 have no life insurance Fact If you're a stay-at-home parent, you may not provide an actual paycheck for the household, but you do provide services that would cost tens of thousands of dollars to replace. Day Care Taxi Service Cleaning The top reason people don't buy life insurance is because They believe they can't afford it! Vs. What people think it costs What it actually costs How much life insurance do you need? $10,000 - $20,000 To cover final expenses (funeral/burial) To cover debts and mortgages (mortgage, loans, credit cards) Experts recommend 10x your gross Public: $60,000 Private: $132,000 annual income To pay for your kids' college education To replace your income Your life insurance needs can change Getting married Having child It all adds up! $s00,000 $25,631 $226,920 Child inheritance a house $250,000 Buying. Leaving an House S188,400 ...? Marriage of life insurance shoppers said life events - getting married, having or adopting a child, or buying a home - prompted them to shop for life insurance. 41% 4 in 10 households with children under age 18 say they would immediately have trouble meeting everyday living expenses if a primary wage-earner died today. What impacts your premiums? Health Condition Risky Occupation Risky Activities Driving Record e of Age Smoking Type Policy To keep your premiums low, buy early! The life insurance industry supports a healthy economy With 90% of the industry's $5.3 trillion assets invested in the U.S. economy, life insurers are one of the largest sources of investment capital in the nation. 90% Life insurers are the largest single source of bond financing for 18% American business, holding 18% of all U.S. corporate bonds. Sources Presested y http//www.ac.com ttp//www.lima.com/ ttp://www.kiplinger.com tetp/www.lifenappens.org http://www.babycenter.com http://www.census.gov http:/nces.d.now Mtp://www.cnbc.com ttp:/nces.ed.gov http://www.nd.gov Efinancial www.efinancial.com

What You Need to Know About Life Insurance

shared by efinancial on Jan 17
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Infographic providing stats and little known facts about life insurance & life insurance premiums

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Efinancial

Category

Health
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