David Woods on mission of the life insurance industry

David Woods, principal at Woods Financial Group and Woods Enterprises.

What is the mission of the life insurance industry?

"The mission of the life insurance business is to provide financial security when someone dies, becomes disabled or retires (but the industry is falling behind, according to Woods). Roughly "68 million Americans have no life insurance of any kind, with 70 percent of workers saying they could not go longer than a month without their paycheck. And we all know the retirement savings crisis in our country."