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June 11, 2003 at 08:00 PM
NU Online News Service, June 11, 2003, 5:53 p.m. EDT – For U.S. adults between the ages of 18 and 29, having a child may have a more dramatic effect on interest in disability insurance than on interest in life insurance, according to results of a survey of young adults released by State Farm Mutual Automobile Insurance Company, Bloomington, Ill.
When researchers polled 957 young U.S. adults in late April and early May, they found that only 16% of the participants reported having disability insurance, while 52% reported having life insurance.
Only 8% of all the young adults surveyed said they intended to use life insurance within the next 12 months, while 14% of the participants who were having children said they planned to do so.
But child-bearing seemed to give an even bigger boost to interest in disability insurance. The number of survey participants who were interested in the product was small, but the percentage was twice as high among participants who were having children. Three percent of all the participants intended to use disability insurance in the next 12 months, while 6% of the participants who were having children intended to do so.
