Hispanics have the lowest rates of life insurance ownership compared to whites and African Americans, claims a new study released today by the LIFE foundation and LIMRA.
The study points out a common insurance tale: While 70 percent of Hispanic consumers agree that they personally need life insurance, only 54 percent of them say they own it.
Still, the study shows the gap is much narrower among other demographic groups. To compare, 80 percent of African Americans and 67 percent of whites agree they need life insurance, while 76 percent of African Americans and 62 percent of whites own it.
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