- 52 million Americans with household incomes between $50,000 and $250,000 do not have coverage [they think they’re immortal]
- 40% of those who have insurance don’t think they have enough
- $155,000 is the national average death benefit [better than nothing!]
According to the study, consumers have specific expectations about the role they expect advisers to play.
- 66% of consumers believe that a financial adviser should offer life insurance as part of their overall financial strategy [emphasis mine]*
- 60% of respondents who own life insurance want to meet with their adviser at least once a year [I must have the other 40%!]
- 77% indicated that they don’t expect their annual review to be a lengthy meeting – an hour or less will do [ I feel the same way. Honest. I’m military about ending on time.]
The LifeJacket Study reveals valuable insights needed to educate and motivate yourself to help secure your financial future, to preserve your wealth. Download the study to learn more.
I’m a firm believer in self-education!
*The way regulatory trends are going, I think soon only licensed financial advisers will be able to recommend life insurance to the public due to the inherent & profound fiduciary responsibility such a recommendation entails. Few of us have the patience to find & evaluate the top dozen policies in any given State. And the Top 12 will vary widely for each individual because each company has its marketing sweet spot, the segment of the population in which it thinks it can best compete.