Life Insurance for Comic-Book Characters

Asked to assess the life insurance needs of five fictional characters, Americans believe superheroes Batman and Spiderman have much greater needs than cartoon parents Fred Flintstone and Marge Simpson.

Only 18 percent answered "none of the above/don't know," a category combining those who realize that fictional characters do not need life insurance with those who simply can't decide whether Batman or Marge Simpson face greater risks.

I would guess that "crimefighting" would fall outside of the policy coverage anyway, and it would be really hard for Bruce Wayne's estate to collect.

Click the link to read the release for yourself...Sep 28, 2005 13:07 ET Holy Cow Batman! Americans Think Superheroes Need Life Insurance More Than Moms and Dads; Insurance Expert Disagrees

National Survey Illustrates Common Misconceptions Contributing to Crisis of Underinsurance

WASHINGTON, Sept. 28 /PRNewswire/ -- Asked to assess the life insurance needs of five fictional characters, Americans believe superheroes Batman and Spiderman have much greater needs than cartoon parents Fred Flintstone and Marge Simpson.

Insurance expert David F. Woods, CLU, ChFC, president of the Life and Health Insurance Foundation for Education (LIFE), which sponsored the survey as part of Life Insurance Awareness Month, says these findings suggest that many Americans harbor misconceptions that prevent them from getting the financial protection their families need.

"It's clear that confusion exists about the basic reason people need life insurance," says Woods. "If your loved ones stand to suffer financially upon your death, you need life insurance. Whether you're a superhero or a super-parent really misses the point because no matter how dangerous your job is, you never know what tomorrow will bring. If someone depends on you, it is imperative to make arrangements now that ensure they will be taken care of if you were no longer there."

Survey Findings

Conducted by KRC Research between August 11 - 14, 2005, the survey asked 1,014 Americans above the age of 18 to consider five fictional characters and select the one they believe has the greatest need for life insurance. Here's how consumers weighed in, along with expert assessment by LIFE president David Woods:

- 28% chose Spiderman, an unmarried freelance photographer with an elderly aunt he supports. David F. Woods' Reaction: "Peter Parker probably needs life insurance to ensure that if his superpowers ever failed him and he died, his aunt could stay in their home and be cared for."

- 18% chose Batman, a wealthy bachelor. David F. Woods' Reaction: "Unmarried and quite wealthy, Batman doesn't have anyone who depends on him financially and therefore probably doesn't need life insurance."

- 16% chose Fred Flintstone, a married father with a young child. David F. Woods' Reaction: "Fred, the primary breadwinner of the Flintstone family, has a pressing need for life insurance to ensure that Wilma and Pebbles could maintain their standard of living if he were no longer able to provide for them."

- 15% chose Harry Potter, a teenager and student. David F. Woods' Reaction: "A full-time student with no siblings or parents who might be affected financially by his premature death, Harry Potter doesn't have a need for life insurance."

- 11% chose Marge Simpson, a stay-at-home mom. David F. Woods' Reaction: "Not all family contributions are monetary: Stay-at-home parents like Marge perform many household services that would expensive to replace, and consequently have a significant need for life insurance."

- None of the Above/Don't Know: 18%

"Though fictional, the life situations of these characters illustrate just how different real people's individual life insurance needs can be," says Woods. "During Life Insurance Awareness Month, we encourage Americans to think seriously about their need for life insurance and to consult a qualified insurance professional for assistance in obtaining the right amount and type of coverage for their particular financial needs and circumstances."

Determining Your Need for Life Insurance

LIFE offers the following tips to help Americans evaluate their individual life insurance needs:

- Think about who depends on you -- This includes anyone who relies on you financially, including your spouse, children, parents or other loved ones. It is important to periodically re-evaluate your insurance needs whenever circumstances in your life change, such as getting married, having a child, buying a home, or getting a new job or promotion.

- Get a sense of how much life insurance you need -- Determine how much money your family will need to cover immediate expenses and how much they will need over the long-term to maintain their standard of living. An interactive calculator is available at www.life-line.org/lifecalculator to help you estimate your needs.

- Learn about the different kinds of life insurance -- Life insurance policies exist for virtually every need and budget. Evaluate the different types of coverage available, including term and permanent policies, and figure out what kind of life insurance might be right for you by using LIFE's interactive decision guide at www.life-line.org/whatkind.

- Get help -- While it's important to be an educated consumer, life insurance is one product where an expert's opinion can make all the difference. One way to find a good insurance agent is through recommendations from friends and family, and above all, choose someone you know you can trust. Find a listing of qualified insurance professionals in your community by using LIFE's agent locator at www.life-line.org/agentlocator.

About LIFE

The Life and Health Insurance Foundation for Education (LIFE) was founded in 1994 in response to the public's growing need for information and education on life, health, disability and long-term care insurance. LIFE also seeks to remind people of the important role insurance professionals perform in helping families and businesses safeguard their financial futures. To learn more about these topics, please visit www.life-line.org.

About Life Insurance Awareness Month

Life Insurance Awareness Month is an industry-wide educational campaign created to address growing concerns about the large number of Americans who lack adequate life insurance protection.

Source: PR Newswire