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LIMRA Research

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Industry Issues

LIMRA created this booklet of key facts from LIMRA and other sources to be used in educating people about the value of life insurance and annuities.

Key Findings

A majority of Americans believe that most people need life insurance, and identify several reasons for owning it such as paying for final expenses, replacing lost wages, and leaving an inheritance. However, when asked, half of U.S. households say they do not have enough life insurance – the highest proportion ever. In addition, having enough money for a comfortable retirement tops the list of Americans’ financial concerns. People are living longer and — as sources of retirement income shift from traditional Social Security and defined benefit pension plans — securing a sustainable retirement income has become more of an individual responsibility. Many of the 76 million Baby Boomers will rely on their assets in fixed and variable annuities to help maintain their lifestyle in retirement.

How do we quantify the value of these important products and communicate it to others? LIMRA has created The Facts of Life and Annuities to help companies educate people through speeches, articles, presentations, and other means about the value of life insurance and annuities.

Key Takeaways

Member company executives can use the facts in this report as they educate people through speeches, articles, presentations, and other means about the value of life insurance and annuities.

Related Research

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U.S. Individual Life — Quarterly COVID-19 Reported Claims Updates

These quarterly reports provide an update of COVID-19 and pandemic related reported claims. Data from 32 companies representing approximately 72 percent of the industry face amount in-force are included in this analysis. LIMRA, RGA, TAI, and the SOA jointly collected the data supporting the results of this report.


Meet the Project Director