For the First Time in History, More Americans Are Covered by Employment-Based Life Insurance than by Individual Life Insurance, LIMRA Reports
WINDSOR, Conn., August 30, 2017 – A new LIMRA study finds that 108 million Americans have life insurance coverage through their workplace, compared with 102 million covered by individual life insurance.
For the first time in history, more Americans are covered by employment-based life insurance than by individual life insurance.
WINDSOR, Conn., June 2, 2008 — Universal life (UL) was the only individual life insurance product able to produce more new premium in the first quarter of 2008, according to LIMRA's life insurance sales survey.
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WINDSOR, Conn., June 2, 2015—Total individual life insurance new annualized increased 8 percent and policy count rose 5 percent in the first quarter, according to LIMRA’s Retail Individual Life Insurance Survey.
WINDSOR, Conn., Feb. 26, 2010 — Total new annualized premium for individual life insurance declined five percent in the fourth quarter of 2009, resulting in a 15 percent reduction for the year as compared to 2008, according to LIMRA’s quarterly individual life insurance sales survey.
Windsor, CT, June 7, 2006 — First quarter 2006 individual life insurance sales rose 15 percent in new annualized premium, compared with the first quarter of 2005, according to LIMRA International's quarterly survey of U.S. individual life insurance sales.
In 2017, only 48 percent of employers offered life insurance to their workers, a 23 percent decline from 2006. This continues a steady of decline in employer sponsored life insurance since 2006 (chart 1).