Which of the following statements is true regarding the results of studies by LIMRA and New York Life Insurance Company on the adequacy of life insurance owned by households in the United States?
I.The average household is adequately insured against the risk of premature death.
II.The average household is significantly underinsured against the risk of premature death.

Question

Quizplus · Accepted Answer

The statement that is true according to the studies is II only - the average household is significantly underinsured against the risk of premature death. LIMRA and New York Life Insurance Company both found that many households did not have enough life insurance coverage to adequately provide for their loved ones in the event of an untimely death.

Which of the Following Statements Is True Regarding the Results