BLackhistorymatter

07/17/2022

05/17/2022

Changing how Black Americans use life insurance could help shrink the racial wealth gap

Black Americans are more likely to carry life insurance than the average American, but their coverage does little more than provide for funeral costs.

Fifty-six percent of Black Americans have life insurance, according to a study by LIMRA and Life Happens, compared with 52% of all Americans. But 46% remain underinsured, with their benefits not enough to replace income or provide wealth transfer across generations.

But more coverage could help close the racial wealth gap, experts said, but many Black Americans are missing out because of financial concerns, a misunderstanding of how life insurance works, and mistrust of the industry at large.

Fifty-six percent of Black Americans have life insurance, according to a study by LIMRA and Life Happens, compared with 52% of all Americans.

04/28/2022

What in the world?

04/25/2022

My little brothers group is doing their thing!