By Warren S. Hersch
Parents would rather talk to their children about drugs/alcohol, religion and politics before life insurance, which is a topic only slightly more comfortable than sex and puberty, according to a new report.
discloses this finding in a “Public Affairs Life Strategy Survey” conducted by Harris Interactive on behalf of State Farm’s PR agency, Weber Shandwick. The report examines the opinions of 2,000 U.S. adults ages 18 and older in regard to life insurance.
The report reveals that higher percentages of parents feel comfortable talking with their children about drugs and alcohol (55 percent), religion (53 percent) and politics (44 percent) than discussing life insurance (38 percent), family finances (36 percent) or sex/puberty (30 percent).
Nearly half (45 percent) of Americans first learned about life insurance
from a family member, the report states. Daughters were most likely to name their moms (21 percent) as their top source for first learning about life insurance, while sons are most likely to list their dads (22 percent).
Becoming a parent is the number one life event that prompts individuals to obtain life insurance coverage (37 percent); however, just 51 percent of parents have individual life insurance policies outside of work.
The report adds that more than 7 in 10 parents consider life insurance to be important (71 percent). And over three-fourths say it plays a role in their overall financial plan (78 percent).
Yet only 59 percent of parents would be likely to adjust their budget to purchase life insurance. A greater percentage of parents would be willing to adjust their budget to afford cable TV (76 percent), a family vacation (69 percent), or a cell phone and service for each family member (62 percent), compared to life insurance.
Nearly 8 in 10 (78 percent) percent of Americans consider themselves at least somewhat knowledgeable about life insurance. Only one in five (22 percent) feel they are not at all knowledgeable about life insurance.
The survey observes also that more than four in ten (44 percent) of Americans believe that “life insurance benefits are only accessible when an insured family member passes away.”
More detailed survey results can be found here
Originally published on LifeHealthPro.com