6 ID Trends NAILBA
8 consumer facts that ’ ll keep you up at night
50 % of American adults –
129 million Americans
– say they don ’ t have life insurance .
50 %
Source : 2022 Insurance Barometer Study , LIMRA and Life Happens
41 % of Americans —
106 million adults
— say they need ( or need more ) life insurance .
75 %
41 %
4 in 10 families would face financial hardship within six months should the primary wage earner die , and a quarter would struggle financially within a month .
7 in 10 uninsured consumers say they don ’ t have life insurance because it is too expensive , yet 75 % overestimate the cost of life insurance .
7 in 10 women believe having life insurance coverage is important , yet the majority of women are uninsured .
4 in 10 parents with financially dependent children don ’ t have life insurance .
A majority of uninsured Americans say they haven ’ t purchased coverage because they don ’ t know what to buy or how much they need .
1 in 5 Millennials mistakenly believe they wouldn ’ t qualify for life insurance ( although most would ).