Life changes continue to prompt consumers to add life insurance to their retirement and financial plans, according to research from Northwestern Mutual.
The motivation behind many of the 2,097 Americans ages 18 and older obtaining life insurance and planning future financial security differ by age and lifestyle. The younger respondents (18-34 years old) are most likely to have purchased life insurance due to the birth of a child. More than one-third (36 percent) of Americans 55+ years old who have life insurance were prompted to buy life insurance as a result of marriage, and 31 percent were prompted as part of a retirement plan.
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