September Is Life Insurance Awareness Month. Are You Properly Insured?

2015 Insurance Barometer Study
For the fifth year, Life Happens partnered with LIMRA to produce the Insurance Barometer Study, which looks at consumer trends and consumers’ perceptions regarding life insurance, retirement and their financial well-being. 
Among the findings, cost is the reason most Americans give for not owning life insurance, yet 80% of consumers misjudge the price for term life insurance, with Millennials overestimating the cost by 213%, and Gen Xers overestimating the cost by 119%. 
“We’ve consistently seen over the last five years that consumers think life insurance is more expensive than it really is,” says Marvin Feldman, CLU, ChFC, RFC, President and CEO of Life Happens. “We need to help educate the public about how affordable life insurance can be.” 
The study also found that nearly one-third (30%) of Americans believe they need more life insurance and more than 2 in 5 (43%) say they would feel a financial impact within 6 months if the primary wage-earner died. However, the majority of Americans (54%) say it is unlikely they will purchase life insurance within the next 12 months. 
In addition, most Americans continue to put other financial priorities ahead of purchasing life insurance:
29% of Millennials cited saving for vacation

23% Gen Xers said paying for recreational activities such as going out to eat, movies or shopping

49% of those 65 and older cited paying for expenses such as Internet, cable and cell phones


Health Insurance

Major Medical

Short Term Major Medical

Medicare Supplement

Senior Medical Insurance

HSA Health Plans

Group Medical

Life Insurance, Senior / Final Expense Life Insurance

Discounted Prescription Drug Plan

C.D. Alternative, Wealth Transfer

Critical Illness Plans

Accident Insurance

Vision & Dental Plans


About FuscoInsuranceAgency

Independent Insurance Broker - Personal & Business Insurance, Life, Health, Retirement, Benefits, Bonds Gold & Silver Bullion & Coins Advisor / Sales President of Fusco Insurance Agency, Inc. Providing Solutions For Your Insurance & Retirement Needs! Licensed in NY NJ CT PA MD NC SC TX & FL E Mail: Toll Free: (866) 983-8726 Fax (866) 299 - 7990
This entry was posted in 401 k, Accident Insurance Plans, Adams County, Pennsylvania, Affordable Care Act Open Enrollment Period 2016, Affordable Healthcare, Affordable healthcare Enrollment Expert, Albany County, New York, Allegheny County, Pennsylvania, Alleging County, New York, Annuities & Retirement, Annuity Plans, Arizona, Asbury Park, Asset Protection, Atlantic City, New Jersey, Atlantic County, New Jersey, Available In NY,NJ,CT,PA,MD,SC,NC,TX & Fl, Available Nationwide, Avon, New Jersey, Baltimore, Maryland, Barnaget, Basking Ridge, New Jersey, Bayonne, New Jersey, Beaver County, Pennsylvania, Bedford County, Pennsylvania, Bedminister, New Jersey, Belmar, Belmar, New Jersey, Bergen County, New Jersey, Berks County, Pennsylvania, Blair County, Pennsylvania, Bridgewater, New Jersey, Bridgewater, NJ, Brielle, New Jersey, Bronx, Brooklyn, Brooklyn, New York, Broome County, New York, Bucks County, Pennsylvania, Burlington County, New Jersey, Butler County, Pennsylvania, Deal, New Jersey. Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s