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13 Key Facts On Black Americans Increasingly Buying Life Insurance Policies, More Than Other Racial Groups

13 Key Facts On Black Americans Increasingly Buying Life Insurance Policies, More Than Other Racial Groups

Black life insurance

Photo credit: digitalskillet / iStock, https://www.istockphoto.com/portfolio/digitalskillet?mediatype=photography

Written by Ann Brown

May 23, 2022

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4. Using life insurance as a way to protect family

Beyond living expenses and savings, insurance is important “to protect your family if something happens to a wage-earner,” said Alison Salka, a senior vice president and director at LIMRA, the Life Insurance Marketing and Research Association.

A 2018 New York Life’s Life Insurance Gap survey found that 83 percent of Black Americans view life insurance as a key way to take care of their families.

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