News You Can Use: Life insurance coverage eroding

The recession has nearly all employees and their families recasting how they separate "wants" and "needs." Apparently, more are taking life insurance out of the "need" category, and it's showing in sales of life coverage.

In a report in this month's EBN, Greystone Benefits’ Joe Vogt tells Senior Editor Robert Whiddon that workers aren’t reaching deeper into their pockets for voluntary life or other worksite offerings like they used to, even if they only cost a few dollars a month.

According to Vogt, “Where they would say, ‘Well, you know, $7 a week that’s not bad. I can afford $350 a year’ — they’re not doing that anymore.”

To read the full report, "Crumbling coverage," click here.