Ep 74: 5 Reasons Why Life Insurance Is Important Part Of Wealth

"5 Reasons Why Life Insurance Is Important Part Of Wealth"

In this episode I share 5 Reasons Why Life Insurance is important part of building wealth.  Fun Fact:  From Bankrate.com article written by Ashley Hubbard.

Life insurance facts and statistics

• In 2020, 54% of Americans were covered by life insurance.
• 50% of people overestimate the cost of term life insurance. Millennials, in particular, overestimate the cost by 213%.
• The average premium for a male rises 258% between age 25 and age 50.
• Gender, age, smoking status, health, medical history and other factors impact your life insurance rates.
• The suicide clause refers to a clause that usually lasts about two years, in which an insurance carrier won’t pay out for death by suicide.
• Some life insurance policies exclude coverage if the insured died while committing a felony. Additionally, if the policyholder was murdered by the beneficiary, the benefits are typically not paid out, which is known as the slayer rule.
• A man’s average premium is about 12% more per month than a woman’s.
• The number of consumers who prefer internet sales for life insurance increased from 17 percent in 2011 to 29 percent in 2020.

Email: amir.estimo@thinkgenwealth.com
Social Media: @thinkgenewealth