bs-preloader__icon
ru kz en

Poll: Americans do not know how to build a thrift plan for old age

Americans are overconfident and not saving enough for retirement, according to a recent USAA poll of more than 2,000 respondents. For example, less than half (46%) of Americans have term life insurance, Fox Business reports.
Poll: Americans do not know how to build a thrift plan for old age

Life insurance is financial protection for loved ones in the event of your untimely death. The professionally selected insurance policy can replace your income for the family and provide enough money to cover the funeral expenses, loan repayment, and some funds will be left for the family's daily expenses.

Questions to ask when choosing the amount for your death benefit:

What is your annual income and how many years of income do you want to provide?

What additional sources of income do your beneficiaries have?

How much debt do you have? What investments do you have?

How much money do your kids need for the college?

US term life insurance policies can be obtained for a period from 10 to 30 years. These are very affordable policies; they usually cost $25-50 per month their owners.

Life insurance is a policy that expires only after the death of the insured. It has a guaranteed monetary value and you can access your benefits in retirement or in the event of an accident. The drawback of such policies is the high cost: from 300 to 3000 US dollars per month.

Source: https://www.foxbusiness.com/personal-finance/how-much-life-insurance-do-you-need-survey

Photos are from open sources.

Share
read also
Women in Australia are less likely to buy life insurance
Women in Australia are less likely to buy life insurance

Women in Australia save on life insurance, writes Financy....

They propose in Azerbaijan to punish insurance companies for high commission fees
They propose in Azerbaijan to punish insurance companies for high commission fees

During the meeting of insurance companies in connection with the electronic system of...

Longevity insurance
Longevity insurance

The birth rate worldwide has been steadily declining over the past few decades agains...

The most interesting materials of the site you have in the mail! Subscribe to the newsletter.

ASK A QUESTION TO THE EXPERT
ASK A QUESTION TO THE EXPERT
Submit your application