If there is one thing we’ve learned through the pandemic, it’s that life is fragile and it’s important to prepare for the unexpected. Our hope is that this heightened awareness will encourage more Americans to get the life insurance coverage they need.
Recent LIMRA research shows that 36% of Americans plan to purchase life insurance this year. When it comes Millennials, 48% say they plan to buy coverage.
This is especially important since LIMRA research also shows that 42% of households would face financial hardship within six months should a wage earner die unexpectedly — 25% would suffer financially within a month.
There are at least 102 million Americans living with a life insurance coverage gap. LL Global has joined seven trade associations and 76 life insurers and distributors to launch the “Help Protect Our Families” campaign to address the growing coverage gap in the U.S. Together we hope to engage and educate more consumers about the value of life insurance and help more families protect their financial security.
Below are resources that provide insights about what’s impacting life insurance ownership in 2021 and the important role life insurance can play in providing financial protection.