Anthem Blue Cross and Blue Shield in Missouri Survey Reveals Most Americans Are Prepared for Unexpected Events Due to Life Insurance, though Some Still Are Not
A new national survey by the parent company of Anthem Blue Cross and Blue Shield in Missouri, an administrator of insurance plans, found that more than half of Americans surveyed say they have life insurance.
According to a release, results of the survey also showed that parents in particular (64 percent) are planning ahead with life insurance.
The survey also showed that while nearly half of Americans find purchasing life insurance stressful, they know they need it to protect their families. In addition, nearly half (45 percent) of Americans with life insurance are paying their bills on time, keeping a savings account, and working to reduce debt to prepare for their financial future. And, more than half (55 percent) of the survey participants who are parents believe having life insurance is a way to be prepared for their financial future.
"When it comes to life insurance, we want members to think about the benefits and reassurance it can provide in very difficult times," said Steve Martenet, president of Anthem Blue Cross and Blue Shield in Missouri. "Life insurance can help guard against the need to make drastic changes to future plans if the unexpected occurs."
Even though life insurance is a difficult subject for some people, the company said the results of the survey show that parents have thought about the possibility of an unforeseen event, and for that reason, they have secured a plan to provide their families with stability.
However, those in the Generation Y category (ages 18 to 34) are slightly reluctant to sign up for a plan, with 22 percent worrying that they will jinx themselves by purchasing life insurance.
The survey also found that 60 percent of Americans admit they have never thought about life insurance as a retirement investment. Nevertheless, this is another benefit for people to keep in mind with regards to life insurance.
Additional survey results found:
-A quarter of Americans (25 percent) believe single people don't need life insurance.
-Men are significantly more likely than women to agree that single people don't need life insurance (29 percent versus 22 percent).
-Younger Americans (18-34 year olds and 35-54 year olds) are significantly more likely than Americans who are 55 years old and older to agree with this statement.
-Forty four (44 percent) of Americans don't believe life insurance will provide for their family.
-Americans who are 55 years old and older are significantly more likely than their younger counterparts to share this sentiment.
-Forty four (44 percent) of Americans say that what their parents needed from their life insurance is not what they are looking for now.
-Men are significantly more likely than women to say that what their parents needed from their life insurance isn't what they are looking for now (49 percent versus 40 percent).
The online omnibus survey was conducted using the field services of Taylor Nelson Sofres. The study reached a national sample of 2,500 American adults ages 18 and older.
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