How Much Do You Know About Life Insurance?

Take our quick quiz to learn the truth about what life insurance costs and covers.
By: Edward Jones
 
DEWITT, Mich. - Aug. 2, 2016 - PRLog -- Test your LIFE skills with the quick true-or-false quiz below:

1.  Life insurance is too expensive.
True or False?

2.  People in their 20s or 30s don't need life insurance.
True or False?

3.  Driving record and credit history affect what you'll pay for life insurance.
True or False?

4.  Most people have life insurance.
True or False?

5.  Life insurance is more important than retirement savings or an emergency fund.
True or False?

How Did You Do?

1.  False - Life insurance is too expensive.
Studies show 80% of consumers think life insurance costs more than it does.1 The truth is, a term life insurance policy for a healthy 30-year-old typically costs less than $14 a month.2

2.  False - People in their 20s or 30s don't need life insurance.
Studies show 1 in 3 families would have trouble paying living expenses if they lost a primary wage earner, and millennials are most at risk.2

3.  True - Driving record and credit history affect what you'll pay for life insurance.
In addition to age and health, your driving record and credit history could play a role in how much you pay for term life.

4.  False - Most people have life insurance.
85% of Americans say that life insurance is something most people need,3 but only 41% own an individually purchased policy.2

5.  False - Life insurance is more important than retirement savings or an emergency fund.
It's important to talk to your financial advisor about how you can incorporate all 3 into your financial strategy.

Even if you answered all 5 correctly, life insurance can be confusing and there may be more you need to know. Talk it over with your financial advisor. If you already own a policy, you can review it to ensure it covers what you need. Or, if you want to purchase your first policy, Edward Jones offers options for both term and permanent life insurance that could meet your needs.

Learn more about how much and what type of insurance you might need.

Important information:

1Source: Life Happens and LIMRA Insurance Barometer Survey, 2015

2 Source: Life Happens and LIMRA Insurance Barometer Survey, 2016

3Source: Life Happens and LIMRA Insurance Barometer Survey, 2013

Edward Jones operates as an insurance producer in California, New Mexico, and Massachusetts through the following subsidiaries, respectively: Edward Jones Insurance Agency of California, L.L.C., Edward Jones Insurance Agency of New Mexico, L.L.C., and Edward Jones Insurance Agency of Massachusetts, L.L.C.

Contact
Edward Jones - Mae Luchetti: Financial Advisor
***@edwardjones.com
517-669-8817
End
Source:Edward Jones
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Tags:Life Insurance, Quiz, Policy
Industry:Health
Location:Dewitt - Michigan - United States
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