Americans are underprepared yet optimistic.(Short Interests)

Investment News, September, 2005

Byline: Gary S. Mogel NEW YORK - Most people think that they have enough life insurance, but they are wrong. That was among the key findings of the "Family Financial Forecast'' survey conducted in April by State Farm Life Insurance Co. in Bloomington, Ill. While 70% of the 1,537 U.S.

adults who responded to the survey said that they had enough life insurance, just 12% carried at least seven times their annual income - the minimum recommended by State Farm and by most other insurers. About a quarter said they had no life insurance at all. "Americans feel like they have adequately planned for their future, but they haven't,'' said Susan Waring, State Farm's senior vice president and chief administrative officer. "This unjustified optimism...

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