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Poll: Half of Individuals Surveyed are Puzzled by Insurance Coverage Products

MoneyTips

Insurance coverage products can be difficult to figure out for those outside the market, even for the financially savvy. A current study commissioned by MoneyTips echoes those outcomes, discovering that around half the respondents were confused when looking for the best insurance coverage items to fit their needs.

The study found that about half of middle-income respondents (in between $40,000 and $80,000 yearly income) and of infant boomers aged 50 or higher discover it confusing to research study insurance items and pick the very best one for their scenario. This is not awfully unexpected, offered the a great deal and range of life insurance policies. An extra location of confusion is that tax implications are not always simple.

A majority of participants in both groups– 56% of middle-income participants and 64% of child boomer participants– pick to talk to insurance coverage agents or brokers. Nevertheless, numerous also browse online, with 46% of middle-income participants and 38% o.

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