- 35 million U.S. households recognized the need for life insurance in the past 24 months, but only 13 million purchased coverage.
– The Purchase Funnel, LIMRA, 2022
- LIMRA research shows that, despite shifting priorities, employees still place workplace benefits among the top factors they look for in a potential employer.
– BEAT Study: Benefits and Employee Attitude Tracker, LIMRA, 2022.
- Life insurance is significantly less expensive for the young and healthy; LIMRA even reports that 4 in 10 insured consumers wish they had purchased their policies at a younger age.
– 2022 Insurance Barometer Study by LIMRA and Life Happens
- Among insureds with financial dependents, 68 percent feel secure, compared with 47 percent of non-insureds. Consumers with overlapping sources of coverage have the highest likelihood of feeling secure.
– 2022 Insurance Barometer Study by LIMRA and Life Happens
- 78% of those who own both worksite and individual life insurance feel secure.
– 2022 Insurance Barometer Study by LIMRA and Life Happens
- 29 million adults believe they don’t have enough coverage.
– 2022 Insurance Barometer Study by LIMRA and Life Happens
- Middle-income consumers who own life insurance are more likely than uninsured middle-income consumers to feel financially secure (59% versus 43%).
– 2022 Insurance Barometer Study by LIMRA and Life Happens
- More than 4 in 10 middle-income consumers say they have little to no knowledge about life insurance.
– 2022 Insurance Barometer Study by LIMRA and Life Happens
- One quarter of middle-income consumers think life insurance is only to cover burial/funeral costs.
– 2022 Insurance Barometer Study by LIMRA and Life Happens
- 42% of Americans say their household would face financial hardship within 6 months should a wage earner die unexpectedly — 25% would struggle financially within 1 month.
– 2022 Insurance Barometer Study by LIMRA and Life Happens
- Most households haven’t prepared for the loss of a primary wage earner: 44% say it would take less than six months to feel financial hardship if this happened to their family.
– 2022 Insurance Barometer Study by LIMRA and Life Happens