Why Is Final Expense Important ?

A Policy Of Life Insurance Is The Cheapest & Safest Mode Of Making A Certain Provision For One’s Family
Benjamin franklin

As of January 2024, approximately 51% of Americans reported owning some form of life insurance. This figure reflects a noticeable decline from 63% recorded in 2011, indicating a shifting trend in life insurance ownership over the years. Furthermore, a significant 42% of the population expressed the need for additional coverage or indicated they plan to purchase life insurance for the first time, heralding a record high requirement. Collectively, this amounts to about 102 million Americans being either uninsured or underinsured, underscoring a pressing gap in life insurance protection

Ethnic Variations in Insurance Needs
Ethnic background also influences life insurance ownership and perceived needs. Both Black and white Americans show an ownership rate nearly 10 percentage points higher than that of Hispanic Americans. Specifically, 49% of Black Americans and 53% of Hispanic Americans acknowledged needing more life insurance coverage. This data suggests a critical need for tailored educational initiatives to address the insurance gaps within different ethnic groups, aimed at increasing awareness and accessibility.

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Why Is Final Expense Important ?