We have a major problem in this country! Only 40% of adults have life insurance. This, while shocking, the actual percentage of people signing up for life insurance is on the decline. Why are we failing to get coverage? It may be because we misunderstand the cost and benefits of it.<\/p>\n
So, we’re here to address some fact and myths regarding one of the most important policies you can get.<\/p>\n
Fact or Myth…. Group Life insurance coverage through work is usually adequate?
\nMyth – Though rates can be lower, people who buy insurance only through group life insurance have the lowest average amount of coverage and often need supplemental coverage.<\/p>\n
Fact or Myth…. If you lose your job, you lose life insurance coverage provided by your employer?
\nFact – While some states require providers to offer the option of rolling over term coverage into and individual policy. Not all do!<\/p>\n
Fact or Myth…. Most people get life ins. when they have their first child?
\nMyth – While 72% of married workers have life insurance, that figure picks up to 75% for married couples with young children. And 100% of married couples with children SHOULD HAVE life insurance.<\/p>\n
Fact or Myth…. You have to pay taxes on the death benefit from life insurance policy?
\nMyth – In nearly all circumstances, benefits paid upon death are not taxable!<\/p>\n
Fact or Myth…. If you don’t have children, you don’t need life insurance.
\nMyth – If you have large private student loans, are supporting your partner or other family members or share a mortgage with you partner, life insurance is a good idea!<\/p>\n
Fact or Myth…. Most people are offered life insurance through their employers.
\nFact – 56% of all workers had group life insurance coverage through their employers in 2010!<\/p>\n
Startling Facts…
\n-Of widows and widowers whose spouses died prematurely (between the ages of 30 and 55), only 25% felt their spouses had adequate life insurance.
\n-Thirty percent of U.S. households have no life insurance at all; only 44 percent have individual life insurance.<\/p>\n
<\/p>\n","protected":false},"excerpt":{"rendered":"
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