Revenue Not Enough? Or personal responsibility is not enough?

I recently participated in a meeting with senior executives from some of the largest life insurance companies country. The subject of the meeting was the crisis of 95 million Americans uninsured adults and the lack of awareness and concern by those adults about the need for life insurance.

The question is, Why do we have this problem? Part of the reason is the loss of employment due to the weak economy, but it is not the main reason. The main reason is the new standard of what consumers deem reasonable and appropriate for their lifestyle.

Young people are waiting longer to get married and start a family, so the perception is that there is no need life insurance protection in their 20s or early 30s. Cell phones, cable television and the Internet have become necessities and are no longer a luxury.

I recently had a discussion with a young lawyer who said he had just spent his cable, Internet and phone handset business package for $ 500 per month. That is $ 6,000 per year, a few years ago, and would have been allocated to savings and protection planning. If the prosecutor has an income of $ 75,000, this package is 8% of its gross income.

His concern is that it does not have enough net income to pay for a life insurance, especially since it does not expect to die anytime soon.

Life insurance may not be a financial priority now, but what happens to people who depend on him if he is here to provide the income they need to maintain their lifestyle or simply pay for basic necessities? It is a matter of personal financial responsibility to plan and plan early, when life happens, because when he does, it's too late to get the coverage you need. You can start here.