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It shows that the American people have been adding to their insurance in recent years. Their total holdings now add up to $1.3 trillion and are growing at the rate of more than $100 millioa a year.
In the State of Virginia, according to the figures, the amount in force totals $28,372,000,000. This compares with the 1960 figure oi $10,179,000,000.
In most families the amount oi insurance carried is in direct proportion to their income. The total held by the average family in the state, it is found, is equal to 28.4 months income, after taxes. Applied to Rappahannock County and to the average income reported for the area, life insurance coverage locally is now estimated at $13,700 per family.
IjiSjjs *» much as
average family nad ten years
Of the grand total of $19,188,000 carried by the local population, the bulk is in ordinary life insurance. Group ago.
88.6%