As a general rule, life insurance leads often stem from individuals who are getting older and who want to protect their families should something happen to them. But as the results of a recent survey indicate, many customers may obtain this type of coverage as a secondary source of income due to financial issues beyond their control.
The poll, conducted by Northwestern Mutual, discovered that nearly two-thirds of Americans between the ages of 48 and 60 believe that they will have to work beyond the age of 65 in order to maintain their current standard of living.
Financial investment expert Dave Simbro said more people are reaching retirement age and realizing that they aren't in a position where they feel comfortable leaving their jobs.
"Americans approaching retirement have serious concerns about their financial preparedness for living comfortably in this next phase of their lives," said Simbro. "It has also underscored for many of them the critical need for solid financial planning in the years ahead."
Another issue that many individuals may have failed to account for are people living longer than they have in the past. Data from the Society of Actuaries indicates that among married couples, there is a 50/50 chance one of them will live to be at least 94 years old, the financial services firm notes.
The poll also found that these respondents felt they had too little life insurance coverage, as one-third of respondents indicated as such.
Agents who take advantage of life insurance leads may want to remind customers about all of the things life insurance coverage provides for, including how it can help them prepare for uncertain economic circumstances.
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