Only 44% of U.S. households have individual life insurance.
35 million households have no life insurance coverage, up +8% from 2004.
11 million households with children under age 18 have no coverage.
More than 40% of Americans say a major reason they have not bought more life insurance is because they have other financial priorities right now, such as paying off debt or saving for retirement.
4 in 10 households with children under 18 say they would have immediate trouble meeting everyday living expenses if the primary breadwinner died today.
24% of households with children under 18 want to speak with a financial professional about their life insurance needs.
25% of all households plan to buy life insurance in the next year.
1 in 4 middle-market households admit they don’t know how to obtain or reach their financial goals, including buying life insurance.
Almost 8 in 10 U.S. households currently do not have a personal life insurance agent or broker to turn to and most of them say they never did.
According to the study, life insurance beat out all other sources of financial assets or income that Americans expect to use to help pay bills and to maintain their lifestyle in the event of the primary wage-earner’s death.
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