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

Think Generational 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.

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This podcast is sponsored by Amirison Financial. Our goal is to help the culture build Wealth Assets Prosperity. We appreciate you taking the time to listen to this episode and share the content if you find value.