NAILBA ID Trends Resource Guide 2020-21

57 ^% 57 ^% 60 ^% 59 ^% 59 ^% 57 ^% 54 ^%

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U . S . life insurance ownership has dropped 9 percentage points in the past 10 years .

63 ^% 59 ^% 62 ^%

2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

Source : 2020 Insurance Barometer Study

U . S . Households

Top 3 reasons consumers give for not buying life insurance :

63 ^% 61 ^%

It is too expensive

Have other financial priorities

Source : Turn Up the Volume : $ 12 Trillion Sound Opportunities , LIMRA , 2017 .

52 ^%

Already have enough coverage

The majority of Americans overestimate the cost of life insurance three-fold ; Millennials are likely to overestimate the cost by five times .

Source : 2020 Insurance Barometer Study

NAILBA ID Trends Resource Guide 2020-21 | Page 5