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Financial woes may be lessened with insurance plans

Posted On Mon, July 26, 2010

Personal finances remain in shambles for many Americans after the economy's recent turmoil. Even as signs show the country slowly emerging from the depression, the majority of people are still trying to dig themselves out financially, according to a study by MetLife.

Almost two-thirds of Americans reported that they are increasing their savings and reducing their the amount they spend in order to fix their financial situation, according to the study.

"Many Americans report they continue to dig themselves out of a deep financial hole that they have been in since before the economic downturn," says MetLife senior vice president of global brand and marketing services Beth Hirschhorn.

People who lack auto, health, home and life insurance tend to be less optimistic about the country's economic situation, the report found. Having such types of insurance are crucial to a person's total financial picture. Such insurance coverage can provide a needed safety line in the event of an accident. Almost 70 percent of those surveyed reported that they did not feel that they had enough of a safety net.

People can compare life insurance plans online to help determine which ones will provide the amount of coverage they need.ADNFCR-2297-ID-19907536-ADNFCR

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