Tuesday, July 5, 2016

Ebony Tackles Planning for Life After Death

Ebony.com has a nice write-up on the important financial security life insurance can provide.  The article touches on some of the disparities in usage between communities.

Key point:
A 2011 study sponsored by two leading insurance industry associations, LIMRA and the nonprofit LIFE Foundation (now known as Life Happens), found that African-Americans are more likely to have life insurance, with 76 percent of those surveyed owning insurance, versus 62 percent of Whites and 54 percent of Hispanics. Underinsurance, however, remains a problem; a 2012 poll revealed that 42 percent of Blacks said they were in need of more life insurance, compared with 32 percent of the total U.S. population.