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Index reveals a quarter of those without permanent life insurance considering the productPosted On Tue, September 14, 2010
Current economic conditions may make people feel as though they can't afford life insurance. Deciding to forgo the coverage, however, can end up being a more costly mistake. Life insurance is a way for people to make sure loved ones won't struggle financially in the event of the policy holder passing away.
The First Command Financial Behaviors Index shows that 25 percent of those without permanent life insurance are considering buying the product. A number of middle-class Americans, however, are already using the product. The index revealed that nearly 40 percent of middle-class people have a form of permanent life insurance.
Despite such findings, First Command Financial Services CEO Scott Spiker says more people need to consider their life insurance options.
"We remain concerned that such a large segment of the middle class has no life insurance protection," says Spiker. "Maintaining the right amount of coverage provides a significant lift in feelings of financial security and confidence in the future."
People should consider speaking about life insurance options with an agent they trust. There are a variety of life insurance products designed to meet the needs of individuals in a variety of circumstances.
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