Survey: Almost One-Third of Georgians Don’t Have Life Insurance
GEORGIA – September 6, 2018 (wltz.com) According to a report online at wltz.com, a recent survey conducted in Georgia shows that almost one-third of the state’s residents do not have life insurance policies.*
A survey conducted by AAA Consumer Pulse indicated that 32 percent of Georgians do not have life insurance. This is a big problem, the company says. “Life insurance is a crucial part of financial and insurance planning,” said Michael Fletcher, assistant vice president of life insurance sales for AAA. “Many people either don’t have a policy or not enough coverage, and all it would take is one accident or terminal illness to leave your family in financial peril.”
There are several reasons people opt to go without life insurance, many of which are mistaken beliefs about the policies or the process of obtaining the policies. Two of the most common life insurance myths, according to AAA, include:
Life insurance costs too much. This was the No. 1 reason cited by Georgians for not having life insurance. But life insurance can actually be very affordable. For example, a healthy 35-year-old woman could obtain a policy of $100,000 for as little as $8 per month or less than $1 per day.
Single people don’t need life insurance. Unmarried people often believe they don’t need ife insurance policies. But aging parents, nieces and nephews, or even charities can benefit from someone’s policy if something happens to that person. Also, some policies can have cash value, meaning people can take out loans on the value of the policy to be paid back at a later date.
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