Many people have first-hand experience with the current economic downturn.  If  you are one of the lucky ones who have gone unscathed, you probably know people whose lives have been negatively impacted.  The bottom line is, few of us are unaffected by our current economic malaise.

This economy shows us how precarious a family’s finances can be.   No matter how difficult the economy is, It is important that the bread winner of a family should have some life insurance protection for their family.   In today times families can not afford not to have some life insurance protection.

The following statistics provided by LIMRA,  LIMRA, is an organization that compiles this kind of data which is quite alarming:

• 41% of U.S. households have no life insurance at all.
• 30% of American households are under-insured (meaning their policies don’t offer adequate protection for their families).
• More than 50% of Gen X and Gen Y households need more life insurance.
• The top two reasons people don’t buy life insurance are:  competing financial priorities and they think they can’t afford it.