Americans Hazy on Death and Debt: Ethos
June 2, 2020 by Allison Bell
Many U.S. consumers are hazy about what happens to debt after death.
Ethos, a company that sells life insurance online, has published data on that knowledge gap in a summary of results from a survey of 1,978 U.S. adults ages 20 and older.
A polling firm conducted the survey for Ethos in December, before COVID-19 had attracted much attention in the United States.
Ethos found that 38% of the survey participants said they were unsure how life insurance works.
About 82% said they value the idea of leaving behind a strong financial legacy, but 39% said they did not think they would leave behind a strong financial legacy.
And many participants seem to have avoided thinking about what would happen to their debt if they died suddenly.
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