Sixty percent of adults with a high school diploma or less do not have any life insurance coverage, while only 44 percent of college educated adults have forgone life insurance, according to a new study published by Genworth Financial.
The study also found that college educated adults have 2.5 times the amount of life insurance coverage of adults who did not graduate high school or only received a high school diploma.
This is a significant gap that our life insurance agents at National Agents Alliance can target their efforts. Consumers often don’t realize the cost of life insurance is much lower than widely perceived. In fact, the cost of just a few cups of coffee a month is often the same cost of adding adequate life insurance coverage.
For those who are single, it would be wise to purchase a life insurance policy now in order to lock in the low and affordable rates that will only climb as you age.
It is important NAA life insurance agents show their clients that life insurance creates a safety net underneath their family, should the provider pass away. This is an investment that can secure a family’s financial future, in which just one single event could have potentially destroyed if they don’t have coverage.
Regardless if your client is college educated or has a high school diploma, everyone needs adequate life insurance.