What Parents Discuss with their Kids
A new online survey shows just how difficult life insurance conversations can be. Parents would rather talk to their children about drugs/alcohol, religion and politics before life insurance, which is a topic only slightly more comfortable than sex/puberty.
The survey also shows parents are the primary source for initial conversations about life insurance. This topic avoidance might be one reason that 22 percent of Americans feel they are not at all knowledgeable about life insurance.
The State Farm survey, conducted by Harris Interactive among over 2,000 U.S. Adults, also revealed a gap in Americans’ knowledge of life insurance and general misconceptions about the benefits life insurance provides to those who are insured. The survey results were announced Tuesday, Sept. 3.
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“Parents know life insurance is an important element to protecting their family, yet there seems to be a disconnect between that importance and the importance of commodities such as cable TV or cell phones,” said Joe Monk, senior vice president and chief administrator officer – State Farm Life.
“The challenging financial times experienced by families over the last several years only underscore the importance of planning for the long term and talking with those we love about family finances, including life insurance.”
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September is Life Insurance Awareness Month (LIAM) and a time to have conversations about this aspect of a family’s overall financial plan. State Farm suggests creating a “Family Bucket List” as a fun way to kick-start this serious conversation.
Make sure setting goals and envisioning your family’s sound financial future is part of the discussion. Life insurance can help you and your family realize the dreams and goals on your bucket list even when faced with challenging circumstances, according to State Farm.
State Farm and its affiliates are the leading provider of car insurance in the U.S. and is a leading insurer in Canada.