Americans aren't being informed of life insurance

Oct 06, 2011

Few Americans have heard their advisors suggest life insurance, despite its value.

Less than half of U.S. adults who have employed the services of a financial advisor have discussed possibly obtaining a life insurance plan, according to Saybrus Partners.

According to the study, 40 percent of those surveyed reported having discussed life insurance with their advisors within the past year, though 15 percent of respondents admitted that the subject hadn't come up in over a decade.

Additionally, less the a quarter of those surveyed said their advisors have ever suggested life insurance as a financial plan.

People aren't recognizing the length of uses in a life insurance plan, according to Kevin Kimbrough, national sales manager at Saybrus.

"Life insurance offers potential for tax-efficient cash accumulation, which can be accessed for a variety of reasons including supplemental retirement income or healthcare costs, as well as a tax-efficient vehicle to provide for heirs,” he told AdvisorOne.

This lack of information should make virtual portals much more valuable. Seeking a life insurance quote may be the right place to start.

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