Many Consumers Say They Need More Life Insurance: Global Atlantic
And some people who already have life insurance told the company they should buy more.
Many Americans may have already sold themselves on the idea that, really, they should have more life insurance.
Global Atlantic has published data supporting that possibility in a summary of results from an online survey of 1,065 U.S. residents ages 25 through 74. All of the participants were involved in making financial decisions for their households.
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About 33% of the participants said they have life insurance and believe they have the right amount of life insurance coverage.
Another 19% said they have no need to use life insurance to protect loved ones.
But about 37% said they believe they have too little life insurance.
Of those, about half — 18% of all of the survey participants — said they have no life insurance at all. The rest said they do have some life insurance, but not enough.
Global Atlantic found that 11% of the survey participants were especially hazy about their life insurance coverage: They said they have no idea how much life insurance they need.
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