LIMRA Research Confirms LGBT Households Share Similar Financial Priorities and Concerns as All U.S. Households
In new analysis of data from the 2016 Life Insurance Ownership study, LIMRA finds that LGBT market aligns with the total market in regards to financial concerns and planning especially around life insurance ownership.
Black households are more likely to own life insurance. However, on average, these households own lower coverage amounts.
Single-mother households are less likely to own life insurance. However, on average, these households own higher coverage amounts.
Black American households are more likely than the general population to own individual life insurance. However, their coverage levels tend to be lower.
This report illustrates the life insurance purchase process, and profiling characteristics that distinguish life insurance buyers.
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.
A recent research brief by LIMRA explores the feasibility of the LGBT population as a market for financial products.
Today is National Insurance Awareness Day - it is a great time for people to review all their insurance needs, including their life insurance coverage.