While many people put off getting life insurance, more people in recent years are beginning to understand the importance of getting enough coverage. A 2023 Insurance Barometer Study conducted by LIMRA revealed that 101 million U.S. adults currently need life insurance but don’t have any. However, 41% of respondents said they need life insurance or need to get more, revealing the awareness of how important this coverage is for many Americans.
The good news is, being covered by permanent life insurance, such as a whole life policy, can give you and your family better peace of mind. If you’ve been delaying getting enough life insurance to help protect your family due to misperceptions about coverage, here are the myths – and the facts – to help you understand how important it is.
