There is a big need to
improve the understanding of less educated and lower paid workers
in the US on the importance of life insurance. This message comes
from a national workplace benefits study covering workers aged
between 18 to 64, undertaken by The Hartford in March.

From an education
perspective, the life insurer’s study revealed that workers with a
high school education only had the lowest level of understanding of
life insurance and were least likely to sign up for this benefit
(65%). Notably, only 30% of workers surveyed with only a high
school education said they completely understand life

From an income perspective,
workers earning less that $50,000 annually were the least likely to
completely understand life insurance (29%) and were also least
likely to sign up for insurance (64%). The average annual earnings
for a full-time worker is nearly $38,500, noted The

On a positive note, the study
revealed that the number of workers signing up for life insurance
benefits increased from 64% in 2009 to 69% in 2010. Women showed
the biggest jump, going from 60% to 69%. Men increased their
participation from 68% to 70%.