Compare Your Answers to Others*
| 1) When you think about protecting your family’s financial future in the event of your death, what comes to mind first? | Answer Percentage |
|---|---|
| I’m uncomfortable thinking about the topic | 6% |
| It’s a topic that I know is important, but I haven’t done anything about it yet | 45% |
| I’m not too concerned | 4% |
| My family is already protected | 45% |
| 2) Have you and your spouse/partner discussed your family’s financial security in the event of your death? | Answer Percentage |
| We’ve never had the conversation | 17% |
| We’ve talked about it, but we don’t really have a plan | 27% |
| We have a plan, but we haven’t acted on it yet | 20% |
| We have a plan, and we have acted on it | 36% |
| Can you share why you have never had the conversation? | Answer Percentage |
| It’s an uncomfortable subject to talk about | 16% |
| It’s a risk I’m willing to take | 2% |
| I know we just can’t afford it | 32% |
| I’m not really sure why | 50% |
| Roughly, for how long have you been thinking about creating a plan? | Answer Percentage |
| Less than a year | 20% |
| 1-2 years | 23% |
| 3-4 years | 16% |
| Over 4 years | 41% |
| What’s preventing you from acting on your plan? | Answer Percentage |
| We’re just too busy | 13% |
| I don’t know where to go to act on our plan | 10% |
| We can’t afford it | 36% |
| I’m not really sure | 41% |
| Great! What made you develop a plan and act? | Answer Percentage |
| A conversation with my financial advisor | 13% |
| A personal experience that made me act | 39% |
| An article I read about parenting | 1% |
| A conversation with a friend or loved one | 21% |
| I’m not sure | 26% |
| 3) What do you think is the average cost to raise a child and pay for a 4-year public college? | Answer Percentage |
| Less than $100,000 | 9% |
| At least $325,000 | 51% |
| More than $500,000 | 32% |
| $1 million | 9% |
| 4) If something were to happen to you or your spouse, do you feel confident your loved ones would be financially protected? | Answer Percentage |
| I think they would be in good shape, able to continue to live in the lifestyle they are accustomed | 42% |
| I think they would be a little stretched, and might have to make a few minor changes, but generally okay | 25% |
| I think they would have to make some moderate changes to their lifestyle | 15% |
| I think they would have to make dramatic changes to their lifestyle | 18% |
| Can you explain why you answered this way? | Answer Percentage |
| I’ve run the numbers | 22% |
| This is what my financial advisor told me | 7% |
| This is what I believe to be true | 62% |
| I’m not really sure | 9% |
| 5) How much of your annual household income do you feel comfortable spending on life insurance? | Answer Percentage |
| None | 16% |
| 5.00% | 14% |
| 2.50% | 36% |
| 1.00% | 23% |
| 0.50% | 11% |
| 6) How much of their annual household income do you think other families spend on life insurance? | Answer Percentage |
| None | 9% |
| 5.00% | 17% |
| 2.50% | 40% |
| 1.00% | 20% |
| 0.50% | 14% |
| 7) How would you describe your knowledge of life insurance products, options and terminology? | Answer Percentage |
| Little to no knowledge | 25% |
| I know the basics | 38% |
| Fairly knowledgeable | 27% |
| Very knowledgeable | 11% |
| 8) How do you feel about thinking about your own mortality? | Answer Percentage |
| No problem, it’s a reality | 44% |
| I don’t particularly like thinking about it | 35% |
| It totally creeps me out; I definitely avoid thinking about it | 8% |
| I’m not sure how to respond | 14% |
*Data based on the results of 10,860 responses, recorded on 08/25/2018.