Prepared and Protected
Life insurance can help provide crucial financial support to a household following the unexpected loss of its primary income earner. However, life insurance is often not well-understood. Many people may think it’s just for burial or funeral expenses. They tend to overestimate the cost of coverage, and they’re confused about which type to buy, often resulting in a failure to make a decision.
Eight in 10 Americans are concerned about being financially prepared in the event of a premature death, yet almost 3 in 10, or 74 million people, don’t own life insurance.
Even among those who own life insurance, a lack of understanding can result in being underinsured. While they have coverage, it may be insufficient to protect their family financially.
Explore key trends in life insurance ownership, coverage gaps across demographics, the financial impact of having coverage when tragedy strikes, and the role of life insurance in preparing for the unexpected — and protecting your loved ones’ financial confidence.
Download the report
Guardian’s 2023 life insurance report can be found here Download