About 69% of single parents with children living in the household lack life insurance.
A team at Genworth Financial Inc., Richmond, Va. (NYSE:GNW), and Gregory Fairchild, a research at the University of Virginia, discovered that figure when they analyzed data from a telephone, online and mail survey of 23,000 U.S. adults ages 18 and older that was conducted over a 15-month period.
The Genworth team also looked at a subset of the whole group that included U.S. adults in the sample with household incomes ranging from $50,000 to $250,000.
Only 49% of U.S. adults have life insurance.
The Genworth team found that 45% of married parents with children in the household lack life insurance.