Middle-class consumers show growing interest in permanent lifeinsurance products, according to an August survey from FirstCommand Financial Services.
Forty percent of middle-class Americans own some form ofpermanent life insurance coverage, and among those who don't own apermanent life policy, one in four say they're likely to purchase this type of coverage in the future.
In a statement, First Command's CEO Scott Spiker says consumersare now seeing "how a market downturn can threaten a seemingly sound financial strategy. These numberssupport findings by others in the industry who note that Americansare turning to permanent life coverage as a time-tested tool formanaging long-term risk."
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