Many parents may need more knowledge on life insurance.

Young parents may be trying to prepare their children for their financial futures, but the things they speak to their kids about may not be hitting the right notes.

Adults with children explained they would rather talk to their kids about topics that will affect them as they grow older that don’t involve financial issues, such as life insurance, according to a report from State Farm. The topics they would rather talk about range from alcohol to politics.

However, there may be a reason many fail to speak with their kids about financial strategies like life insurance. The report noted that more than one-fifth of those polled don’t know enough about life insurance to carry a conversation about it.

“Parents know life insurance is an important element to protecting their family, yet there seems to be a disconnect between that importance and the importance of commodities such as cable TV or cell phones,” said Joe Monk, senior vice president and chief administrator officer at State Farm Life. “The challenging financial times experienced by families over the last several years only underscore the importance of planning for the long term and talking with those we love about family finances, including life insurance.”

Despite the issues surrounding hesitation on speaking about this type of insurance, approximately 45 percent of those polled noted they learned about these policies through a discussion with another family member, the report explained.

Obtaining a life insurance policy occurred most frequently when a person became a parent. Even with this in mind, just half of those who have a plan of their own received it through a vendor that was not in the workplace, the report added.

Parents feel its their job to discuss money matters
While some parents may not be comfortable or knowledgeable enough to speak about life insurance, other financial strategies are central to discussions with their children.

More than four-fifths of Americans felt that the best way for a child to learn about money matters was through conversations with their parents, a recent report from Country Financial explained. Another 70 percent noted that this should start at an early age, with children beginning to learn about these concepts by the age of seven.

Less than 15 percent of those polled felt that schools should be giving children this information, the report added.

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