When it comes to American families and financial planning, perception in not necessarily reality. Although Americans are overwhelmingly optimistic about their financial futures, their financial planning habits paint quite a different picture according to State Farm Life Insurance Companies and conducted by KRC Research.
For example:
Perception: More than seven in 10 Americans are confident they have enough Life Insurance.
Reality: Only 12 percent of Americans report having the industry recommended coverage of seven to 10 times the family's annual income.
The sooner you start planning for your future, the better off you and your family will be. Don't put off planning for your family's financial future.