Skip to content

LIMRA Consumer Research

Summary

Industry Issues

  • Consumer financial attitudes and behaviors
  • Ownership rates for life, disability, and long-term care insurance
  • The appeal of simplified underwriting
  • The importance of social media for financial advisors

Key Findings

  • Protection against loss: More than one third (35 percent) of all households would feel adverse financial impacts within one month if a primary wage earner died.
  • Feelings about coverage: Among those with life insurance, about 1 in 5 say that they do not have enough.
  • Shopping for coverage: Half of all adults visited a life company website and/or sought life insurance information online in 2017. Almost 1 in 3 purchased or attempted to purchase life insurance online — about the same as in 2016
  • Purchase barriers: Consumers overestimate the cost of life insurance, especially younger generations; 44 percent of Millennials overestimate the cost at five times the actual amount.
  • Simplified underwriting: Half of all consumers say they are more likely to purchase life insurance if priced without a physical examination.
  • Social media: The importance of social media platforms is growing, especially among younger generations. Fifty-four percent of Millennials are likely to ask social media connections for recommendations on financial professional.
  • Financial advisors: Half of all consumers want a primary financial advisor; 37 percent have one; 14 percent are looking for one.

Latest Version of this research

No part of any report may be reproduced or translated without written permission from LIMRA. Please contact Customer Service for further information.

Related Resources

Related Research

2017 Insurance Barometer Study

Apr 24, 2017

The Barometer Study tracks perceptions, attitudes, and behaviors relative to financial products, with a particular focus on life insurance.

Canadian Group Life and Health Insurance Sales

Aug 21, 2025

Don't miss the latest sales trends in the Canadian group insurance market for life, long-term disability, and other types of health insurance. New Q1 2025 data.

Ascent to Agency Success: Recruiting, Training, and Retaining High Performing Agents in the Philippines

Aug 19, 2025

This report provides insights from industry and agency leaders on effective recruiting and retention practices, common mistakes to avoid, and the role of technology in enhancing productivity.

U.S. Monthly Individual Life Sales

Aug 18, 2025

Get the latest monthly individual life sales and application trends. New April and May 2025 data.

Canadian Sales Force and Retention

Aug 14, 2025

Calendar-year retention of the Canadian career agent sales force. New 2024 data.


Meet the Project Director


For more information, please contact jscanlon@limra.com.

Did you accomplish the goal of your visit to our site?

Yes No