Do I Need Life Insurance? How Much Should I Get? TheStreet 12/14/2020
By Georgia Rose
Perhaps fueled by acute awareness of their own mortality, many Americans shopped for life insurance during the pandemic. But some lost interest when local Covid-19 cases declined, a new NerdWallet survey found.
More than a third (35%) of those who considered purchasing life insurance due to the pandemic but ultimately didn t buy say they decided against it because Covid-19 cases in their area started going down.
This behavior suggests some people view life insurance as a panic purchase, says Grant Dunn, vice president of financial services at Lakenan Insurance, a brokerage in Missouri. That s not what life insurance is made to do. It s not meant to protect people for the next six months while Covid cases are high in their area. It s meant to protect the family during all of your income-earning years and beyond.