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WellPoint: Many Avoid Thinking About Life Insurance

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Many consumers still deal with preparing for death by just not thinking about the possibility that death could happen.

WellPoint Inc., Indianapolis (NYSE:WLP), has put a spotlight on the “Hey, me whaaat? You must be joking” approach to life insurance planning by commissioning an online survey of about 2,500 U.S. residents ages 18 and older. The results have come out just as the Life and Health Insurance Foundation for Education (LIFE), Arlington, Va., is rolling out the September 2011 Life Insurance Awareness Month campaign.

WellPoint found that 31% of the survey participants said they plan for the consequences of premature death by trying not to think about premature death.

About 69% of the survey participants said they have thought about the consequences of dying prematurely, and half of those said they lack the financial resources to care for loved ones adequately if they die sooner than expected.

About 38% of the survey participants — and about 32% of the participants with children under 18 — said they would rather spend money on fun things rather than on life insurance.

In contrast, about 88% of the survey participants who do have life insurance described themselves as being people who plan for the future.

- Allison Bell

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