1st Aug ‘08 - US Workers in Dark Over Decreasing Term Life Insurance
Posted on Friday, August 01st, 2008 at 3:59pmA study carried out by Principal Financial Well-Being details how 74% of employed Americans have little to no knowledge of decreasing term life insurance.
A spokeswoman from a major US decreasing term life insurance player commented, “Individuals need to protect themselves against the unexpected, especially during tough economic times. For many of us our homes are our biggest asset and that asset can be at significant risk should we become too sick or hurt to work.”
The news that so many US workers are in the dark about the essentials of decreasing term life insurance indicates that more needs to be done to educate about the potential benefits of such policies.
Although the study does not relate to the UK market, a recent survey by Yorkshire Building Society found that only 25.5 million (50%) of UK people in employment have any form of life insurance protection cover.
