This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

ING U.S. Study: Many Say Life Insurance Is More Important Than Ever In Current Economy

MINNEAPOLIS, Sept. 12, 2012 /PRNewswire/ -- In support of Life Insurance Awareness Month, ING U.S. today released findings from a new consumer study1 that underscores striking disconnects in attitudes and behaviors toward life insurance. 

To view the multimedia assets associated with this release, please click:


According to the research, Insurance Revealed, most survey respondents (78 percent) viewed life insurance as a valuable tool for estate or financial planning, and more than half (53 percent) believed that the current economy makes life insurance even more important today than in past years. For more information on the study, please visit the ING U.S. newsroom at

However, despite recognizing its value and importance, a significant number (51 percent) cited other priorities, such as paying off debt or a mortgage, as major obstacles to purchasing life insurance.  Meanwhile, 61 percent had never calculated their life insurance needs and only one-quarter of those insured felt extremely confident that they had enough coverage. 

The study also showed communication is an area for further opportunity.  While 62 percent identified family as the number one reason to purchase life insurance, many couples confirmed that they avoid discussing the issue.  Among married respondents, 45 percent had rarely or never talked with their spouse about what would happen to the family finances should one of them pass away. 

"Life insurance is one of the least discussed components of a family's financial plan, yet it plays such an integral role in providing for a secure future," said Butch Britton, CEO of ING U.S. Insurance.  "Without candid conversations among spouses, family members and financial professionals, many Americans risk being underinsured and having inadequate coverage in the event of a loss.  We hope our study and outreach efforts, especially during Life Insurance Awareness Month, can help initiate the necessary conversations that lead to greater protection and, ultimately, greater peace of mind."

According to the findings, respondents were most familiar with the protection benefits of life insurance and they placed the greatest value on the more obvious uses such as replacing lost income (26 percent) and paying off debt (23 percent).  Very few highlighted its value to protect retirement savings (4 percent) or build wealth (1 percent).  Insurance Revealed illustrated that life insurance's unique ability to grow assets is underappreciated.

Coverage Conundrum

Regarding coverage matters, the ING U.S. study found close to half (44 percent) of Americans had little or no confidence that the amount of life insurance coverage they had was sufficient.  Close to one quarter (23 percent) of those between 25 and 34 thought they were too young to purchase life insurance. 

1 of 4

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $94.27 -0.76%
FB $101.00 1.47%
GOOG $684.12 0.89%
TSLA $143.67 -3.09%
YHOO $27.10 1.04%


Chart of I:DJI
DOW 15,914.74 -99.64 -0.62%
S&P 500 1,851.86 -0.35 -0.02%
NASDAQ 4,283.5920 +14.8290 0.35%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs