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.
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.
WINDSOR, Conn., Sept. 6, 2011 — A new LIMRA study has quantified the sales potential in the life insurance market of underinsured households in the U.S.
Interact with select results from LIMRA's 2010 U.S. Life Insurance Ownership Study and receive instant, customized analysis with the click of a button! You can view ownership and related results by standard income and age groups or refine the results to define your market.
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.
Almost half of Canadian households admit they would either have immediate trouble meeting everyday living expenses or be able to cover expenses for only a few months if a primary wage earner died.
Back in the 1700's English theologian Isaac Watts said "Learning to trust is one of life's most difficult tasks."