Few consumers aware of beneficial investment features of life insurance: NAIC
By Lauren McNitt
ProWEB Wire (Industry News)
Consumers are unaware of the investment features some life insurance policies offer, according to a new National Association of Insurance Commissioners survey.
The survey found 63 percent of Americans own life insurance. However, 65 percent of consumers did not know some types of life insurance include a dollar amount that is guaranteed to increase in value and may offer tax benefits.
Nearly half of respondents said low risk and tax benefits are their main investment priorities, making these types of life insurance policies valuable additions to their portfolios, according to the NAIC.
In addition, many consumers are unaware they can use permanent life policies as a means of accessing emergency funds, according to the NAIC.