Study Shows Nearly 39 Percent of Americans Say No to Life Insurance Due to High Costs Reports TheLifeInsuranceGurus.com

San Francisco, CA -- (SBWIRE) -- 09/20/2012 -- According to a survey taken by InsuranceQuotes.com, about 39% of Americans are not interested in life insurance policies due to the high rates of insurance companies. The trend is increasing amongst the youth as they think life insurance companies end up costing them too much and it would be impossible for them to purchase such polices.

However, those already subscribed to life insurance were satisfied with the costs of such companies. According to a report, the people who have already insured themselves are paying $100 per month and 46% of the people said that they were paying just $50 per month for such a vital service.

John Egan, an analyst of life insurance policies, told the media that normally people do not have sufficient knowledge about life insurance policies, which is why they do not ask the insurance companies about full benefits with the passage of time.

He added that many people never bother changing their policies and continue with the same old trends. According to a report, about 70% of people never change the service providers and about 64% of people are continuing with the same company for the last five years.

John Egan believes that people can save a significant amount of money if they take a keen interest in their life insurance policies.

“Plenty of people who haven’t compared prices in a while could potentially save money and get a better policy with just a little bit of effort, since many different insurers are aggressively competing for customers,” said Egan.

The survey report has also found some interesting figures about the age group of 18-34 years old . They are the least interested in life insurance policies. Only 6% of this age group is availing a life insurance policy. Whereas, people aging 35-54 keen to utilize this policy and their ratio is about 27%.

Meanwhile, singles are not interested in such policies and about 57% of such people are living without life insurance.

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