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(Chart) In 2021, which age group is the main group to purchase American life insurance? |#LIAM21

Every September is the Life Insurance Care Month in the United States——Life Insurance Awareness Month (LIAM for short).During the Life Insurance Care Month, led by Life Happens, various institutions and organizations will promote free educational activities in the community to help policyholders learn and understand life insurance knowledge, and understand how to plan life insurance plans to meet their life insurance needs and Realize the protection of the family.

The ambassador of Life Insurance Care Month in 2021 is a famous singer and producer who has won 4 Grammy Awards, as well as a mother: Kelly Rowland (Kelly Rowland).

kelly life insurance

American Life Insurance Guide Community(TheLifeTank) is also an honorary supporter of this activity.In this year’s Life Insurance Care Month, we will share the public education materials for 2021 to help policyholders and readers understand about 2021American Life InsuranceThe basic figures.

25 to 40 years old even accept life insurance

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In traditional stereotypes, life insurance belongs to the "old" era.But in fact, with the continuous upgrading of American life insurance products, young people who are more receptive to new things have become the group with the highest life insurance holding rate.

Among American millennials between the ages of 25 and 40, the holding rate of life insurance policies reached 49%.And nearly 45% of people are planning to take out insurance in the future, far exceeding the 40-60 year old group of American residents.

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More than half of young people aged 25-40 are worried that after an accident, the entire family may face problems with "money" and "income".

COVID-XNUMX pushes life insurance to insure

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According to the data chart of the authoritative institution LIMRA, the overall life insurance policy holdings in the US society has shown a gradual decline from 2011 to 2021.

along withNew Coronavirus OutbreakWith the emergence of, more than 1 million Americans feel the need for more life insurance protection.

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Nearly one-third of the respondents believe that becauseNew Coronavirus OutbreakThe reason is that they will be more likely to apply for life insurance in the next year.

Talking about "money" with your partner is important

In the 2019 Life Insurance Care Month report,American Life Insurance Guide©️point out, It’s important to discuss the future financial situation frankly with your partner and family.

For every family, a stable economic foundation is the foundation of a happy life.

What kind of expenses can life insurance be used to cover?

In order to help understand this problem, we first divide the expenses that each person or family may face in life into the following three categories, respectively, for two different functional goals of life insurance.

Life insurance for protection and claims

1. Expenses that must be paid at the moment

-Tax
-The cost of processing the estate
-Credit card debt
-car loan
-Mortgage or rent
-Deductible or expenses beyond medical insurance coverage
-Funeral expenses

2. Continuous daily expenses

-food
-housing
-Bills such as water, electricity and gas network
-The cost of transportation
-Health and medical insurance expenses
-Cost of maintaining family expenses
-Business expenses

Most consumers purchase life insurance to ensure that our loved ones can continue to maintain the current quality of life.

Life insurance for financial planning

In addition to the above two types of expenses, life insurance is also used to cover the following common future expenses, which include:

3. Future expenses

-Higher Education Tuition
-Funds needed for the retirement of spouse or lover
-Wealth Succession Plan
-Special charitable donation projects, such as Memorial Fund

As we have seen, life insurance can be used and planned in various forms to allow you and your loved ones to maintain a stable financial foundation.

How to act?

For consumers who want to take action, the American Life Insurance Guide provides free "Life insurance coverage calculator"Click to visit) To help readers evaluate the amount of protection needed.

For the public who are seeking protection, we provide free "Life Insurance Price Comparison Tool"Click to visit), to help those who wish to apply for consumerTerm life insuranceReaders, used to analyze and compare the prices of different insurance brands.

For those seeking wealth management cash value life insurance, consider using this type of insurance policy for wealth planning,Retirement planningReaders, can visit the "U.S. Life Insurance Guide"Special topic, learn about different products andFinancial planning, For the next professionalLife insurance brokerDiscuss in-depth family financial situation with financial planners and get ready.

If you need to know more about life insurance, please visit insurGuru©️Insurance Academypage. (End of full text)

(>>>Recommended reading:2018 American Life Insurance Care Month Review : Popularize with the public"Benefits before death"Education
(>>>Recommended reading:2019 Caring Month Review: The post-80s are the most pragmatic, and the post-70s are the most worried )
(>>>Recommended reading:Caring Month 2020 Review: Looking Around Reality
(>>>Recommended reading:2021 Care Month Review: Post-80s and post-90s become the main force in insurance

About Life Happens
Life Happens is a non-profit organization.The organization does not belong to any product, company or insurance consultant.Official website https://lifehappens.org

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