Re: lack of life insurance?
Did you know that ownership of life insurance has been declining severely over the past couple decades? And those who have purchased life insurance usually do not own enough? Studies show that 40 percent of adult Americans have no life insurance whatsoever, and over 50 million people in this country lack adequate life insurance. Other studies of widows and widowers whose spouse died prematurely (between the ages of 30 and 55) show that less than 25 percent felt their spouse had adequate life insurance. Lack thereof has caused many widows and widowers to have to drastically change their lifestyles, in ways like taking on second and third jobs or working longer hours, borrowing money, withdrawing money from savings or investment accounts, and/or moving into smaller, less expensive housing.
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