Term Life Insurance: Closing The Gap
America faces a growing term life insurance policy gap. Recent studies have found that most are uninsured or severely underinsured. Less Americans are asking, “What is the best life insurance?” or “What is the cost of life insurance.” Instead, they’re asking, “Can I even afford term life insurance right now?”
Consider these findings
- America’s “mortality protection gap”- the difference between the resources needed to maintain a family’s standard of living and the resources available after the death of the primary breadwinner, has increased by 10%
- Life insurance coverage has decreased 24% per family
- For every $100 needed, the average American family only has $32 in net assets and life insurance
- Life insurance ownership is at a 50-year low
- Nearly half of Americans do not feel confident in their life insurance coverage amount
Why the gap?
Some experts say the decline in life insurance coverage is due to many being put off by the traditionally drawn-out and complicated process to get coverage. A lack of awareness about the availability and options also contribute to this problem.
In a recent study, Neil Sprackling suggests that, “life insurers have a unique value proposition in helping society close the gap and have a key role to play in helping to educate people on the benefits and affordability of life insurance.”
In other words, this gap can be closed with the help of term life insurance policy carriers providing an easy and educational process.
Closing the gap of term life insurance policy
The internet provides an accessible and informative solution. Today’s consumer wants to research the available options in order to make the best choice for their family. Information should be organized, relevant and helpful.
We provide education and options that are accessible. The process can be easy- in a few minutes, you can obtain a free quote and apply for term life insurance coverage from the top life insurance companies in America. The website includes a term life insurance calculator and instant access to term life insurance quotes. It also offers articles to educate consumers on the options, process, and terms of life insurance.