The Facts and Myths of Life Insurance

The Facts and Myths of Life Insurance

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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.

RELATED: Are You Spending Too Much on Life Insurance?

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.

To download an image of this infographic, click here for the myths and here for the results!

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