Jan 1, 2011
35 million US households (about 30%) have no life insurance protection at all, according to the 2010 Life Insurance Ownership Study done by LIMRA. Among households with children under 18, 4 in 10 say they would immediately have trouble meeting everyday living expenses if a primary wage-earner died today. Only 44 percent of US households have individual life insurance. This is a 50-year low. Half of US households (58 million) say they need more life insurance – the highest level ever. But, the fact is, fewer consumers are purchasing new life insurance policies:
Procrastination and not knowing where to obtain individual life insurance are other factors for the declining purchase rates. Almost 8 in 10 American households currently do not have a personal life insurance agent or broker to turn to and most say they never did. For Facts About Life 2010, Read More.
Source: News Release - Sept, 2010 by LIMRA, a worldwide research, consulting and professional development organization.
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