Women want the kinds of living benefits that life insurance policies can offer, but few know that those living benefits options exist.
Penn Mutual Life Insurance Company, Horsham, Pa., has published that finding in a summary of results from a recent survey of 600 U.S. women.
About 69% of the women interviewed knew that life insurance could help them leave an inheritance for loved ones, but only 45% said leaving an inheritance for loved ones is important.
About 79% of the women interviewed said having a steady stream of retirement income is important, but only 38% said they were very or somewhat familiar with life insurance income features.
Similarly, 50% said helping children pay for college is important, but only43% said they knew how to use life insurance as a college funding vehicle.