The poor economy has led Americans to cut corners on their life insurance—at levels not seen in half a century, according to a new study.
Only 44% of U.S. households have individual life insurance, according to the latest Trends in Life Insurance Ownership, a study conducted every six years by Limra, the investment research company.
That represents a 50-year low in U.S. life insurance ownership, according to the study, and means there are 11 million fewer households with life insurance than there were six years ago.
That little snippet was taken from this short article one of my friends posted on facebook this morning.
The article went on to state that people aren’t focusing on life insurance because they are have other financial priorities like retirement planning. This is sad when you figure that a $500,000 term insurance policy can be had for $20 to $30 per month. Who can’t afford that?