Cover burial and other final expenses |
Black Americans
White Americans
Total
|
46 % 48 %
|
66 %
|
Transfer wealth or leave an inheritance |
Black Americans
White Americans
Total
|
32 %
33 %
|
39 %
|
Employer provides it to me |
Black Americans
White Americans
Total
|
27 % 29 %
|
34 %
|
|
To supplement retirement income
Help pay off the mortgage
Help replace lost wages / income of a wage earner
Pay for estate taxes or create estate liquidity
|
Black Americans White Americans Total
Black Americans White Americans Total
Black Americans White Americans Total
Black Americans White Americans Total
|
23 %
23 %
25 %
|
33 %
28 %
29 %
32 %
29 % 31 %
31 % 35 %
35 %
|
The reasons why
Decisions around purchasing insurance or adding to savings and investments vary by ethnicity , personal opinions , and life events . The adjacent survey results show the top reasons provided by consumers .
|
Source : 2021 Insurance Barometer Study |
I just haven ’ t gotten around to it |
Black Americans
White Americans
Total
|
13 % 16 %
|
24 %
|
I ’ m not sure how much I need or what type to buy |
Black Americans
White Americans
Total
|
18 % 20 %
|
22 %
|
I don ’ t like thinking about death |
Black Americans
White Americans
Total
|
14 % 17 %
|
19 %
|