Life Insurance Protection Gap

According to LIMRA1 50% of American adults - that's 129,000,000 Americans say that they don't have life insurance. At the same time 41% of American adults say they either need life insurance or need more life insurance. 

The life insurance protection gap remains a major problem in this country. In fact the life insurance protection gap has more than doubled in the last decade. 

Life Insurance Need

According to LIMRA1 41% of Americans say they either need life insurance or more life insurance

Financial Hardship is Real

LIMRA1 research reveals that 4 in 10 families would face financial hardship within six months of losing the primary wage earner of the household

Dependent Children

Sadly, 40% of parents in the U.S. with dependent children do not have life insurance1

Too Expensive, Really?

As many as 7 in 10 uninsured consumers say the reason they don't have life insurance is because it is too expensive - yet 75% overestimate the cost1

Group Life Insurance Myth

Over a quarter of consumers believe that group life insurance coverage is enough to meet their needs. That may not be the case. Many do not realize that group insurance is not portable if you change employers

Heightened Awareness

The COVID-19 pandemic heightened Americans concerns for their financial security with many worried about leaving their loved ones in a difficult financial situation should they die prematurely

1. LIMRA 2022 Barometer Study

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