In the United States, there is a huge number of households which are unprotected or under protected by Life Insurance. In a recent LIMRA study 7 in 10 households believe would be in serious financial distress if an adult in the household passed away. (1)
37 million households have no life insurance.
Another 33 million households do not have sufficient life insurance to count themselves as protected.
One vehicle that many people rely upon for protection is Group Life Insurance. When offered as a company benefit, it can inexpensively provide protection for many people… but it only does so while the insured works for the company.
Currently, 1 in 5 people are only covered by Group Life Insurance.
The challenge is that recent employment trends show that people are changing jobs more often than in past years. (2)Continue reading “Job Change, Group Life Insurance and Russian Roulette”