Study: Young Americans cite $1M as ideal amount of life insurance

03/5/2013 | National Underwriter Life & Health

Americans in their 20s and 30s say they'd like $1 million in life insurance to "make all their dependents' troubles go away," but they carry an average face amount of $390,000 in coverage, according to a study by The Guardian Life Insurance and LearnVest Planning Service. The $610,000 discrepancy could be a result of the perception that workplace coverage is adequate, according to the report, which found those in the 21-to-30 age group to be the least informed about life insurance.

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