According to AIG, seven in ten Americans say life insurance will protect their ability to live a long, financially secure life, but 51% of the respondents either do not have life insurance or are unsure if they do   Particular findings

  • 28% don’t know the value of their own workplace policy and 25% don’t know the value of their own individual policy – and 42% of spouses don’t know the value of an employee workplace policy and a similar 25% don’t know the value of their partner’s policy
  • A majority don’t understand how term life insurance works
  • Life insurance is not thought of to address illness concern, with 88% of respondents not knowing the cost implications of a private nursing home room, with 75% not knowing that permanent life insurance may be used to cover such costs