Over the past couple of decades, something alarming has been happening: The percentage of people signing up for life insurance is on the decline.
Only 40% of adult Americans have life insurance. Of widows and widowers whose spouses died prematurely (between the ages of 30 and 55), only a quarter felt their spouses had adequate life insurance.
Why are Americans failing to pick up coverage? It may be because they misunderstand the cost and benefits of it.
So we're here to correct a few misconceptions that have been floating around about one of the most important policies you can get.
After you've learned a bit more about what it entails, quiz yourself on your life insurance knowledge.
Life Insurance: The Ideal vs. the Reality
Roll over each statistic to find out whether it is a fact or myth.