Random Life Insurance Statistics….. Interesting stuff here!!!

90% of Americans say they need Life Insurance
Only about 60% of Americans have some sort of life insurance.
Life insurance is considered 7th among financial priorities, with more than 2/3rds of Americans being more worried about planning for retirement, then dying prematurely which would create a huge financial strain on their loved ones.

Back in 1960, 72% of households had life insurance. What happened? A number of things…but, let’s stick to the numbers. In 2015, only 55% of people recommend life insurance. In 2016, that number is up to 66%. The key takeaway is, people’s perceptions are starting to change as they learn how valuable life insurance can be. (hint: it is not just for final expenses)

A recent study says 80% of people overestimate the amount Life Insurance will cost! Here’s a quick chart to show you just how inexpensive insurance can be.

Check out just how inexpensive it can be per month for a 10-year TERM

The reality is life insurance has never been less expensive!

What about some more stats. Average latte from Starbucks costs $5, three times a week this is $15($60+monthly).

If the primary wage earner dies, 70% of U.S. households (with a child under 18) would not be able to keep up with expenses. According to Forbes, 69% of Americans have LESS than $1,000 in their savings. 40% of these households said they would have trouble on day 1

40% of people with insurance only have insurance through their employer. These benefits are great if you work for a company who offers it. However, it’s contingent on you working there. So, if you lose your job, no more insurance. It’s also usually just a year’s salary. Which won’t last too long, and certainly won’t keep your family living the way it’s grown accustomed to.

It’s a tough subject. Nobody wants to talk about it, but we die! We never really know when our clock gets punched? More than 2.5 million people die each year in this country. Of the roughly 7,000 people that will die today, how many of those people had their affairs in order? How many families just got their entire life flipped upside down because the impossible just happened and now they have no idea if they can stay in your house, go to the same school, where they’re going to get money for clothes, doctor visits, food, etc. We all love our families. Let’s make sure they know that when we’re gone.

Cheers!

*No exam just means that you do not have to get a physical
-Statistics are found on bestliferates.org and termlife2go.com
-statistics are an estimate based on the averages from major insurance companies