Many Avoid The Thought Of Life Insurance
It shouldn't be a surprise that a large number of Americans are avoiding the thought of death and not considering life insurance. The results of a recent survey prove that many are trying to avoid the idea of death and are not planning for the unthinkable. This obviously is a poor financial decision and could end up devastating families economically.
WellPoint Inc, Indianapolis completed an online survey of 2500 US residents ages 18 and up. Questions revolved around life insurance planning and planning for the future in general. The results are out just in time for the Life and Health Insurance Foundation for Education (LIFE) campaign which is rolling out the September 2011 Life Insurance Awareness Month according to the article "WellPoint: Many Avoid Thinking About Life Insurance" by Allison Bell/NU Online News Service found on the Life and Health Insurance News website.
WellPoint's survey showed that 31% of respondents said they plan for a premature death by trying not to think about it at all. Not very productive of course, but makes sense. Death is obviously a tough thing to plan for. Approximately 69% of participants said they have thought about term life insurance quotes and about 50% of those said they could not adequately care for loved ones if they were to pass away earlier than expected.
People need to seriously consider the future, especially if they have children. About 38% of survey responsents, and 32% of participants with children, said they'd prefer to spend money on fun things instead of planning for life insurance. Planning for the future enables families to enjoy the fun things in life with less guilt and worry. This is something these participants should consider. Around 88% who did carry life insurance said they consider themselves people who plan for the future, which makes sense.