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Paul Sobotta, CLU®, ChFC®, CFP®, RICP®
Financial Planner
CA Insurance Lic. #4169793
Kyle Sobotta, CFP®
Financial Planner
Prudential Advisors
205 Washington Street
Arcadia, WI 54612
Phone: 608-323-7032
Fax: 608-323-7964
Email: paul.sobotta@prudential.com
September/October 2022
What Do You Know About Life Insurance?
According to research, 42% of households would face financial hardship within six months should a wage earner die; 25% would suffer hardship within one month.*
September is Life Insurance Awareness Month, an annual campaign to educate people about the importance of life insurance and its ability to provide financial security for families. LIMRA’s* 2021 Life Insurance Misconceptions Barometer study looked at some of the myths people believe about purchasing life insurance.
It's Too Expensive
More than half of study respondents overestimated the price. The annual cost of a policy for a healthy 30-year-old is around $160, but 44% of millennials estimated it to be $1,000.Workplace Life Insurance is Enough
29% of Americans believe they get enough coverage through their work. But median employer coverage is only $20,000 or one-year’s salary.**I Won't Need it Until I'm Older
Life insurance is far less expensive when you’re young and healthy. Nearly four in 10 people said they wished they had purchased a policy at a younger age.*LIMRA is a worldwide research, consulting, and professional development organization. ** https://www.trustage.com/learn/inside-insurance/
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