Many new parents, newlyweds don't buy life insurance immediately

04/3/2013 | BenefitsPro.com

Sixty percent of new parents and 70% of newly married or divorced couples haven't shopped for or purchased life insurance within two years of their major life events, and two-thirds say the product isn't their biggest financial priority, according to a LIMRA study. Advisers should offer such clients a holistic view of their finances and point out the value of life insurance as a means of paying debt, providing for children's education or shoring up retirement savings in case of a death, LIMRA says.

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