Recent LIMRA research on mass affluent consumers found more than 75 percent agree that most people should own life insurance, yet nearly 4 million of the 13 million total mass affluent households do not have adequate coverage.
The U.S. life insurance market is large and growing. Over 87 million American households own life insurance, an increase of 5 million since 2010.
As the popularity of consumer-directed health plans continues to rise, the number of consumers who find themselves with unplanned medical costs is also on the rise.
Ownership volume is growing. The number of American households owning individual life insurance grew by 3 million since 2010.
Windsor, CT, April 6, 2005 — The head of LIMRA International, a financial services research and consulting association, is urging the life insurance industry to help American households bridge the wide gap between the amount of life insurance they own and the amount they believe they need for adequate family financial protection.
Marketing Group Insurance and Health Care Benefits: Trends and Insights -- Phase Two (2001)
In a recent LIMRA study, 50 percent of middle market consumers said they prefer to buy life insurance face-to-face with a financial professional, while 75 percent said they want an advisor who can educate, listen and develop trust.
Trillion Dollar Baby — Growing Up: The Sales Potential of the U.S. Underinsured Life Insurance Market (2011)
There is a wide gap between the amount of life insurance households currently own, and the amount they feel is needed to adequately protect survivors if a primary wage earner were to die. These households represent a tremendous opportunity for life insurance sales. This summary quantifies who are the underinsured and which markets have the most potential.