Wednesday, August 24, 2011

African Americans and Life Insurance

The Coalition for Financial Security has done a substantial amount of work looking at why some communities take advantage of basic financial products like life insurance and why others who have the resources do not.

The Pittsburgh Post-Gazette this week has an interesting look at African Americans and the community's relationship with life insurance.

It is well-worth a read. One key graph:

Researchers found the main reasons African-Americans remained so loyal to life insurance stem from a deep desire to avoid burdening others with burial expenses, as well as the fact that often life insurance is the only means of leaving an inheritance to their loved ones.