As a result of challenging economic times, Americans are more showing interest in life insurance, according to results of two surveys. According to a survey released by the Life and Health Insurance Foundation for Education (LIFE), 56% of Americans say the economic downturn has made it more important to have life insurance, compared to just 9% who believe the need has diminished. Moreover, during the past year more people appear to have added to their life insurance coverage than have lost or reduced their coverage.
Another survey backs up these numbers. The survey, sponsored by New York Life Insurance Co., shows 83% of Americans 30 years of age and older agree that the economic crisis has increased their desire to provide financial protection for their family. Adults aged 30 to 49 (88%) and parents with children under the age of 18 (88%) are particularly likely to have this desire.
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