From LIMRA International’s Life Insurance Ownership Study:
Almost three fourths of Americans agree that life insurance is the best way to protect against premature death of a primary wage earner.
Forty-four percent of all U.S. households (48 million) either don’t own life insurance and believe they should, or own life insurance and believe they need more. Among those that already own some life insurance, 40 percent believe they don’t have enough.
One fourth feel they do not have a plan in place to provide a decent standard of living for their family if they died tomorrow.
A LIMRA study that looked at people’s opportunity to buy life insurance, found that in any given year only about 1 in 10 U.S. households actually buy life insurance.
Half of them find it difficult to decide how much to buy and 43 percent worry about making the wrong decision.
Half just procrastinate – admitting they have just not gotten around to it, and almost one third said no one has approached them about coverage.
Twenty percent find it too unpleasant to think about dying.
