Survey of life insurance: Most people have too little

Survey of life insurance: Most people have too little -

Do you have life insurance? If so, you are among the 57% of Americans who do, according to a recent survey of life insurance money by Bankrate Pulse. But even if you have it, you have enough coverage to meet your financial goals? The survey found that those who have coverage, most people have less than $ 100,000 -. Who would not be sufficient to support a young family or a survivor

"Especially vulnerable are families with children under 18. more than 1 to 3 of these parents (37%) have no life insurance at all, while a third of those who have no more than $ 100,000 in coverage (32%). "

" The $ 25,000 to $ 100,000 policies than you usually see in the collective employer plans can cover your funeral expenses, but they are not going to pay off a mortgage or put a child to college " said Bridgeland. "It is disturbing for me to see that half of the policyholders have coverage levels."

See the chart below for a more detailed breakdown of coverage amounts held by survey respondents.

Insurance Information Institute has released a good overview of the life insurance databases in a short video - check it out

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