Wealth Protection Facts You Need to Know, To Take Action!
Is coverage as expensive as people think? The numbers might surprise you.
Pop quiz: How much do you know about Wealth protection? Ask yourself these questions—and then find out the facts.
- How many people own life insurance?
- Most Americans overestimate the cost of life insurance. By how much?
- What’s the #1 reason Americans buy life insurance?
- What’s the easiest, fastest way to get coverage without hassle?
Question 1- The number of protected families has fallen:
Answer: 52% of Americans reported owning life insurance in 2021. That’s a significant decrease since 2011 (63%). The numbers are concerning, considering 6% of kids will lose a parent before age 18, when they need financial protection the most.*
Life insurance is an essential safety net for families, providing financial support if the policyholder passes away unexpectedly. If you have a policy, you can rest easy knowing your loved ones are protected, even if something happens to you.
Our partners at Ethos make it easy to get a quote online. If you’re ready to apply, it only takes a few minutes.
Question 2- People overestimate the cost of life insurance…by a lot
Answer: More than half of Americans overestimate the cost of life insurance by at least 3x! Imagine the price of your favorite fancy cup of coffee, and triple it—sounds wild, right? Too many families are letting this misconception stop them from getting valuable coverage. By using a company like Ethos to find a policy, you can see how certain factors, like term length or coverage amount, affect your monthly price.
The price of life insurance increases as you grow older, so it’s a smart move to take action sooner than later. Once you lock in your price, it’s set for the duration of your term length.
You might be surprised to find that you have more options to fund your life insurance premiums than you think. Start by looking for unclaimed refunds or rebates from things like tax returns or overpaid utility bills. These often overlooked funds can really add up. Additionally, consider the possibilities within your 401(k) plan. You can sometimes take loans or make withdrawals that could be used to keep your life insurance policy active, without disrupting your current lifestyle or savings.
Using these strategies not only helps utilize funds that might otherwise go unnoticed but also strengthens your overall financial planning. It's a practical way to ensure your family's future is secure, giving you peace of mind as you plan for retirement.
Question 3- Our reasons for life insurance are deeply personal
Answer: Covering final expenses is the #1 reason 83% of Americans buy life insurance. Additionally, 68% of people got a policy to replace lost income, and 63% wanted to leave an inheritance.†
Whatever your reason, Ethos understands getting life insurance is anything but an everyday financial transaction. That’s why they approve 95% of people who apply—because protecting the ones you love most shouldn’t be difficult.
Question 4-Taking actions to protect your loved ones
How to get life insurance today without the hassle of medical exams or long waits? The answer is Ethos. In their application, you answer a few health questions instead of going to the doctor or taking blood tests. If you’re ready to make a plan for life insurance, start by getting a quick quote now.
Life insurance is vital for financial stability, covering debts, and supporting dependents in unexpected events. It replaces income, funds education, aids in estate planning, and ensures peace of mind by securing your family's future. This essential coverage offers both immediate and long-term benefits, making it a crucial investment for every family.
*Death of a Sibling & Death of a Parent, 2021, Judi’s House/JAG Institute. All other data: LIMRA, Facts About Life 2021
†LIMRA, 2021 Insurance Barometer Study
About the Creator
Living the Greatest CONSPIRACY Theory. By RG.
Not because nothing is real—but because power has spent centuries deciding what you’re allowed to believe is. What feels like mass deception is the collision between buried history and real-time exposure.(INFJ Pattern Recognition with Data)
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