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Showing posts from January, 2024

010924 The secret to financial security? Owning life insurance, survey says...

Arlington, Va. and Windsor, Conn.,  According to new findings from the 2022 Insurance Barometer Study, conducted jointly by nonprofit industry trade associations LIMRA and Life Happens, 2 in 5 parents say they are barely or not at all financially secure. This is increasingly critical, as most households haven’t prepared for the loss of a primary wage earner: 44% say it would take less than six months to feel financial hardship if this happened to their family. ·      *    Life Insurance Key to Financial Security Financial insecurity transcends generations and is highest among Gen X (49%),  followed by Millennials (44%), Gen Z (42%), and Baby Boomers (33%).  One way to ease these concerns is life insurance. Two-thirds (68%) of life insurance owners report feeling financially secure compared with 47% of non-owners.  Those who feel most secure are people who have life insurance both through the workplace and through individual coverage (78%). “Life insurance is the foundation of any