Founder, Abrams Insurance Solutions, Inc., San Diego, CA
According to Limra in 2011, 7 in 10 of U.S. households own some type of life insurance. Nearly half of U.S. households own individual life insurance policies. Fifty-eight million or half of U.S. households say that they need more life insurance. Most individual life insurance policies in force are permanent (71%) rather than term (29%). Life insurance is one of the most important purchases you will ever make and it is less expensive than most people think. We are here to help guide you in the most efficient and cost effective way possible to protect your family.
There are many life insurance industry statistics that can help answer this question. But sometimes the life insurance industry is too close to the data to create objectivity. One of the large consumer watch dog services is J.D. Power & Associates. Here are a couple of observations from last year’s publication.
Life insurance ownership has steadily declined over the last 20 years. Those who have life insurance are woefully under insured. 40% of adult in the U.S. have no life insurance. Over 50 million Americans, who have insurance, have inadequate coverage.
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Life insurance ownership has steadily declined over the last 20 years. Those who have life insurance are woefully under insured. 40% of adult in the U.S. have no life insurance. Over 50 million Americans, who have insurance, have inadequate coverage.