Press release
3 in 4 Americans Don't Think They've Made Smart Financial Decisions, Lack of Life Insurance Underscores This
Scotch Plains, NJ: Life Insurance Awareness Month is drawing to a close and by now, most people will likely have seen at least one post or advertisement touting the importance of securing coverage. Despite all that the industry has done to raise awareness of life insurance, new research underscores a disconnect in understanding what this coverage is really meant to do: financially protect our most valuable asset when we are gone - our family.According to a new exclusive survey commissioned by Jazmarc Services and conducted by Wired Research, there's no denying that Americans care deeply about their family and their family's financial future. So much so that half (47%) of Americans report that every single decision they make is with their loved ones in mind. And 1 in 3 (32%) think about their family's future at least once a day.
In fact, 2 in 5, or nearly 102 million Americans, report that:
• Most financial decisions they make for their family today are with the future in mind (41%)
• They think it's important to worry about their financial future right now (40%)
Even more want to ensure that their family's security continues, especially when they are gone. The survey found that when they are no longer here, 1 in 2 Americans:
• Want to make sure their family is well taken care of (51%)
• Never want their loved ones to worry about the family finances (45%)
Despite their care and concern for their family's financial well-being, the survey reveals that 3 in 4 (72%) or more than 183 million Americans don't think they've made smart financial decisions in their life. Their lack of life insurance coverage affirms this. A recent LIMRA survey reveals that about half (48%) of Americans don't have any type of life insurance - at all.
"The disconnect is truly glaring, but not surprising," says Joshua Marcus, founder and managing member of Jazmarc Services, a boutique insurance brokerage. He continues, "For many of us, it is difficult to shift our focus from what needs to happen today to what could be put off until tomorrow, and securing life insurance is one of those things that gets put on the ever-growing "to-do list". "
And while more than 1 in 5 Americans report that buying a life insurance policy or adding to what they currently have is something they'll get to eventually, tomorrow is never a guarantee. In fact, 2 in 3 (66%) Americans acknowledge that the future is not promised to anyone.
That's why Joshua advises all Americans - with and without coverage - to look closely at their options sooner than later. He counsels, "One of the best and easiest ways to protect your family's financial future is with life insurance."
For more information about the survey and to see more results, reach out to Wired Research at info@wiredresearch.com
ABOUT THE SURVEY
The survey was commissioned by Jazmarc Services and conducted by Wired Research between October 20, 2023 and October 23, 2023 using an email invitation and online survey. The survey reached 1,008 nationally representative Americans ages 18+. Quotas are set to ensure reliable and accurate representation of the US population. The study has a margin of error of +/- 3.1%.
ABOUT JAZMARC SERVICES
Jazmarc Services, a boutique insurance planning brokerage, has been providing exceptional insurance services to clients across the country for nearly 15 years. With specialists in every area of insurance, from life, long-term care and disability to commercial and small business, Jazmarc Services is equipped to find the just-right solution to meet all insurance needs for individuals and corporations, alike. For more information about Jazmarc Services please visit www.jazmarcllc.com.
ABOUT WIRED RESEARCH
Wired Research is a leading insights consultancy, partnering with some of the country's biggest and boldest brands to uncover and tackle the most important challenges and capture the greatest opportunities for change. For more information about Wired Research please visit www.wiredresearch.com.
For More Information About the Survey, Contact us at info@wiredresearch.com
Danielle Sherman, Founder & CEO
Wired Research
Scotch Plains, NJ 07076
Wired Research is a leading insights consultancy, partnering with some of the country's biggest and boldest brands to uncover and tackle the most important challenges and capture the greatest opportunities for change. For more information about Wired Research please visit www.wiredresearch.com.
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