How Much Do You Know About Life Insurance

HOW MUCH DO YOU KNOW ABOUT LIFE INSURANCE? Most Americans believe life insurance is a necessity and all people should have it. 70% 62% OF WOMEN AGREE OF MEN AGREE 57% 61% have some kind of have some kind of life insurance coverage life insurance coverage $147,800 $235,600 Average amount of insurance Coverage Average amount of insurance coverage on married men on married women 7 in 10 households are dual-income households 30% of wives of wives earn more than their husbands have no life insurance at all Generally, life insurance payouts resulting from death of the insured are excluded from the beneficiary's income-and not subject to tax. IRS "Life insurance proceeds paid to you because of the death of the insured person are not taxable unless the policy was turned over to you for a price." Department of the Treasury Internal Revenue Service 40% 30% of families of families would IE THE PRIMARY WAGE EARNER DIED... would immediately have trouble have trouble meeting meeting everyday living expenses after several months expenses 2/3 feel life insurance gives people peace of mind HALF of American households say they need more life insurance %23 3 in 10 That's 35 million families M households are uninsured SOURCES: www.irs.gov/publications/p17/ch12.html#en_US_2011_publink1000171970; www.limra.com/newscenter/pressmaterials/10FOL.pdf www.limra.com/newscenter/pressmaterials/11FOL.pdf; www.limra.com/newscenter/pressmaterials/12FOL.pdf Created by oBizMedia H&R BLOCK NEVER SETTLE FOR LESS" www.hrblock.com f www.facebook.com/hrblock