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The paper, titled "Getting Over the Gap: Insights on Life Insurance Coverage in the U.S.," focuses on four major consumer groups that are facing the largest life insurance coverage gaps and stand to benefit the most from an insurance review -- unmarried parents, large families, women and those with certain common health conditions. The paper is based on key insights from
"Consumers often believe life insurance costs nearly three times its actual price, and this is a major contributor to the large coverage gap we're seeing in these four groups," said
With tight budgets and busy schedules, life insurance may appear to be an expensive luxury for those with large families.
The white paper also looks into the differences between married and unmarried parents.
Consumers with common health concerns
It is important for all adults to review their life insurance coverage annually, even for those who don't fall into one of these categories.
The LifeJacket Study of the uninsured in America was conducted in collaboration with independent third party research firms, J&K Solutions and Ruf Strategic Solutions. The supporting survey data for this longitudinal, multi-modal study was collected over the course of 15 months and administered by telephone, online and mail. More than 25,000 adults (ages 18+) across
[ii] Source: Women, Money and Power,