Life Insurance is a general tool that can be used in order to help an individual or family with many financial benefits in the time they need it most after a loved one passes.

These types of benefits can range from covering the cost of loved ones mortgage payments, burial costs, medical debts, or to leave children and grandchildren as inheritance to help them build wealth.

Though it’s common to own a life insurance policy, there is still a large gap between those who are covered and those who aren’t.

-83% of Americans consider covering burial and final expenses an important reason to buy life insurance.

-68% of Americans consider covering the income of a deceased wage earner an important reason to buy life insurance.

-63% of Americans consider it important to buy life insurance to help transfer wealth or leave an inheritance.

-60% of Americans without life insurance report the cost of life insurance as a major reason why they aren’t covered.

-55% of Americans report their other financial priorities are a major reason why they don’t buy life insurance.

-53% of consumers report a major reason why they don’t buy life insurance is because they are unsure what type they should get.