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Majority of Americans Believe Life Insurance Offers Peace of Mind

WINDSOR, Conn., Apr. 24, 2012 — Seventy-five percent of all Americans have confidence in life insurance companies and the percentage jumps to almost 90 percent when looking at Americans who own individual life insurance, according to a new survey conducted by LIMRA.

In its most recent consumer sentiment survey, LIMRA found that consumers who have seen life insurance make a positive difference — either directly or indirectly — were more likely to feel confident in life insurers than those who had no experience. (chart)

“This study further confirms what I have believed throughout my career: life insurance provides the financial security that allows families peace of mind if the unthinkable happens,” said Robert Kerzner, president and CEO, LIMRA, LOMA and LL Global.

In this survey, eight in 10 consumers who have had a positive experience with life insurance say that the life insurance industry plays a critical role following the death of a loved one. The study also revealed that nearly two-thirds of all Americans feel that life insurance give people peace of mind. Looking at those Americans who have had positive experience with life insurance, the number jumps to 76 percent who agree that life insurance gives people peace of mind.

‘The good news is, majority of people understand the value of life insurance and what our industry offers,” noted Kerzner. “But even better, our customers and those closest to them, who can look to their own experience, recognize the good our industry does.”

LIMRA’s most recent life insurance ownership study found that fewer American families are insured adequately (58 million households are uninsured or underinsured). “As an industry, we have got to find a way to reach these American families and help them understand the value of life insurance — not just economically but emotionally — so when they are confronted with the death of a loved one, they too can experience the peace of mind and financial security that life insurance offers.”

Since 2008, LIMRA has conducted quarterly surveys of adult 1000 Americans, weighted to represent the general population. The most recent survey was conducted in January 2012.

 

LIMRA Contact:

Catherine Theroux, 860-285-7787, ctheroux@limra.com.

 

About LIMRA

LIMRA, a worldwide research, consulting and professional development organization, is the trusted source of industry knowledge, helping more than 850 insurance and financial services companies in 73 countries increase their marketing and distribution effectiveness. Visit LIMRA at www.limra.com.

Media Contacts

Catherine Theroux

Director, Public Relations

Work Phone: (860) 285-7787

Mobile Phone: 703-447-3257

ctheroux@limra.com

Erica L. Iorillo

Public Relations Consultant

Work Phone: (860) 285-7875

Mobile Phone: 860-371-8638

eiorillo@limra.com

Brooke Lacey

Public Relations Specialist

Work Phone: (860) 298-3920

blacey@limra.com