The percentage of military households with permanent life insurance coverage is significantly higher than that of the general public, according to a new report.
First Command Financial Services Inc. discloses this finding in a survey of consumers on their life insurance coverage as part the company’s observance of Life Insurance Awareness Month in September. The survey draws on the First Command Financial Behaviors Index, which examines financial behaviors, attitudes and intentions among U.S. consumers.
The report reveals that nearly half of military personnel (48 percent) and one-third of the general population (33 percent) have permanent life insurance coverage. But whereas permanent coverage for the military has risen since August of 2011 (then at 42 percent, rising to 48 percent in July 2012), coverage extended to the general population declined over the same period (from 37 percent in August 2011 to 36 percent in July 2012).