February 13, 2012
By: Bruce Berry
A new survey says that many Americans are guilty of simple procrastination when it comes to checking life insurance rates and buying a policy.
The poll, conducted by the LIFE Foundation, found that only 2 percent of U.S. adults plan to buy life insurance coverage in the next month. However, if they knew they would die in 30 days, 62 percent would rush to buy it.
"The reality that millions of Americans refuse to admit is that it's never a question of 'if' they will die, but 'when' that day will come," said Marvin H. Feldman, president and CEO of the LIFE Foundation. "If you have people who depend on you financially and would suffer when you die, there's no excuse for not buying life insurance right now, before it's too late."
To illustrate the point, Feldman said that people should look at the situation through the eyes of fruit flies, who only live an average of 30 days.
Previous polls have found that many people feel their protection is lacking. Data from LIFE and LIMRA found that 70 percent of people think they need more life insurance.
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- Rising life insurance sales show rising popularity March 01, 2012
