As everyone knows American economy is going in a downfall, with middle class Americans being dragged to personal life policies with important protection regarding uncertain financial environment.
A survey reveals that just around 4% of Americans report making changes to personal life insurance coverage as a result of this economy. Of many who have made changes around 42% increased with 29% decrease in number and rest 17% to cover the elimination.
A survey reveals that just around 4% of Americans report making changes to personal life insurance coverage as a result of this economy. Of many who have made changes around 42% increased with 29% decrease in number and rest 17% to cover the elimination.
This results stand out as an encouraging counterpoint to the year downtrend in life insurance trends. The life insurance premiums dropped around 23% in first six months for the steepest 6 month decline. The findings revealed that middle class consumers are not reacting to such economic turmoil for sacrificing their life insurance coverage. Life Insurance serves as a safety net which catches a family when a big tragedy occurs.
Also findings revealed that around 3 percent of respondents reported to make changes in life insurance coverage as a result of economy. Out of this 70% people had decreased their life insurance coverage. This study revealed out that those people who had a financial planner were having much higher and greater comfort levels than those who did not have any such planning. The life insurance helps consumers to feel more confident in their financial future. On analyzing the results of survey the conclusion came that people who are having sufficient life insurance to cover debt of family have a significant lift in feelings of financial security.
Also findings revealed that around 3 percent of respondents reported to make changes in life insurance coverage as a result of economy. Out of this 70% people had decreased their life insurance coverage. This study revealed out that those people who had a financial planner were having much higher and greater comfort levels than those who did not have any such planning. The life insurance helps consumers to feel more confident in their financial future. On analyzing the results of survey the conclusion came that people who are having sufficient life insurance to cover debt of family have a significant lift in feelings of financial security.
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