This Day On The Street
Continue to site right-arrow
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
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

New Genworth Study Identifies Largest Life Insurance Gaps Among Four Major Consumer Groups

Stocks in this article: GNW

RICHMOND, Va., Dec. 17, 2012 /PRNewswire/ -- For those who think life insurance isn't for them, it turns out they may be right – at least partially. A new Genworth white paper, released today, points out that life insurance isn't intended to benefit the consumer; it's designed for the loved ones who rely on that person's financial support, both now and in the future.

The paper, titled "Getting Over the Gap: Insights on Life Insurance Coverage in the U.S.," focuses on four major consumer groups that are facing the largest life insurance coverage gaps and stand to benefit the most from an insurance review -- unmarried parents, large families, women and those with certain common health conditions. The paper is based on key insights from Genworth's 2012 LifeJacket SM Study.

"Consumers often believe life insurance costs nearly three times its actual price, and this is a major contributor to the large coverage gap we're seeing in these four groups," said Brian Bulakites, vice president and national sales manager for life insurance at Genworth. "We're working to close these gaps by educating consumers on the importance of a good insurance policy. By addressing these needs now, we're able to help our customers help provide the financial resources to their loved ones that will be lost upon their death."

Large families

With tight budgets and busy schedules, life insurance may appear to be an expensive luxury for those with large families. Genworth's white paper outlines a major gap in coverage among adults who have children in their households. Not surprisingly, the pattern of either or both parents lacking life insurance is exacerbated by lower income and larger families.

Unmarried parents

The white paper also looks into the differences between married and unmarried parents. Genworth's 2012 LifeJacket Study revealed that unmarried parents are significantly less likely to have life insurance than their married counterparts, despite their clear need for coverage. The research shows that 59 percent of unmarried women are without insurance, compared with 43 percent of those who are married. For fathers, this gap is even larger, with 69 percent of unmarried fathers lacking insurance, compared with 34 percent of married fathers.

1 of 3

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, 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
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,653.33 +296.46 1.71%
S&P 500 2,044.29 +31.40 1.56%
NASDAQ 4,716.9810 +72.6690 1.56%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs