Half of Americans admit that if they died, they wouldn't leave behind the financial resources to adequately care for their loved ones, according to a recent survey by Wellpoint Inc.
But almost four in 10, 38 percent, don't think they need life insurance and don't want to spend money on it. Even one-third of parents with a child under 18 say they would rather spend money on fun things than on life insurance.
Wellpoint's affiliated life and disability companies provide life insurance and programs to assist members, including legal and financial consultations, travel assistance, identity theft recovery services, beneficiary companion services and more.
Among the survey's other findings:
• Almost nine in 10 Americans with life insurance, 88 percent, say they plan for the future.
• Women are more likely than men, 66 percent versus 57 percent, to say having life insurance means they are prepared for the future.
• Men are more likely than women, 43 percent versus 33 percent, to say they would rather spend money on fun things than pay for life insurance.
• Men are also more likely than women, 44 percent versus 31 percent, to say they don't think they will benefit from having life insurance.