Life insurance isn't just a matter of dollars and cents

Feb 22, 2011

Life insurance is about more than money

A life insurance industry nonprofit says policies are more than simple financial instruments: They are ways to express love toward one's family members, according to the LIFE Foundation.

The group recently released the results of a poll, which show that more than half of Americans would be happy if their significant other bought a life insurance policy and named them as the beneficiary for Valentine's Day. As well, fully 88 percent of women told the company that life insurance was a good way to express love for their families.

However, Marvin Feldman, the LIFE Foundation's CEO, pointed out that comparatively few Americans are covered in this way.

"Americans understand that you buy life insurance because you love your family, but we know from the statistics that Americans aren't taking the steps to ensure that their loved ones are financially protected," he said.

Experts say life insurance quotes will tend to be cheaper for consumers who are in better shape, as well as for those who avoid unhealthy habits like smoking or excessive alcohol consumption.

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