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Many Americans lack proper life insurance coverage

Posted On Tue, July 17, 2012

Genworth released the results of a survey which showed that many Americans lack a proper amount of life insurance overall, but some adults are better covered than others.

The company's Life Jacket Study revealed that the gap between what many adults have, compared with what they need is vast, and many need to address these issues.

"Closing this coverage gap and bringing consumers to the table is one of our highest priorities," said Janet Deskins, senior vice president of life insurance products for Genworth.

In addition, those adults who have life insurance are more likely to be better insured if they have a college degree, the survey found. Overall, those with a degree have 2.5 times more coverage than those with just a high school diploma. In addition, 60 percent of those with a high school diploma or less lack any type of life insurance. When it comes to college graduates, only 44 percent do not have this type of coverage.

By looking for many life insurance quotes, a person may find a plan that is reasonably priced without skimping on coverage.

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