LIMRA: Study highlights misconceptions about life insurance

01/17/2013 | BenefitsPro.com

A LIMRA study offers insight into Americans' misunderstandings about life insurance, the group says. Among 4,000 people who took a 10-question test on life insurance, 55% were unable to pass and less than 1% responded correctly to all questions. "The study shows that consumers with a better understanding of life insurance have a higher level of confidence in insurance companies than those less knowledgeable about life insurance," LIMRA's Jennifer Douglas says.

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