Many of America’s parents are leaving their children unprotected against financial loss stemming from the death of a household breadwinner.
That’s the sobering conclusion to be drawn from a new survey by Bankrate.com. Conducted by Princeton Survey Research Associates International (PSRAI), the survey reveals that nearly 4 in 10 Americans with children under age 18 (37 percent) don’t have life insurance. And about one-third of the parents who do have insurance, have no more than $100,000 of protection.
“These numbers mean that over 20 million households with dependent children either don’t have any life insurance or don’t have nearly enough,” said Doug Whiteman, Bankrate.com’s insurance analyst.