Why some life insurance could prove risky for consumers

January 22, 2020 by Greg Iacurci

Most American adults own life insurance, yet the buying process can be perplexing and pose traps for the unwary — and cause financial problems years down the road.

Around 57% of adults in the U.S. own a life insurance policy, according to a joint study by Limra, a trade group, and Life Happens, a nonprofit insurance advocate.

But the sales standards governing how agents and brokers can recommend certain types of life insurance to consumers can be lax. And the complexity of many types of life insurance could mask potential abuse and make it difficult to know if you’re getting good advice.

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Originally Posted at CNBC on January 17, 2020 by Greg Iacurci.