Life Insurance a Crucial Long-Term Financial Priority

10/26/2010

For Americans who want to focus on their financial future, priorities like life insurance and retirement savings should be at the top of the list.

By investing in a life insurance policy, Americans may find that they can leave loved ones with financial stability - especially in the event of an untimely death where children or dependent loved ones are left behind.

Of equally high importance is retirement saving - and new research from the Society of Actuaries finds that relatively few middle-class Americans are fully informed on their options and strategies for the future. The study also found that some financial professionals lack the connections they could use to meet more prospective non-wealthy clients.

"While research shows many people do not have the knowledge they need to address this problem, relatively few seek assistance from the professionals best equipped to help them," said Dan Iannicola, the co-author of the study.

When thinking about their financial future, consumers are generally advised to start by consulting with a reputable advisor or other professional who can get them started with savings plan and life insurance options.

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