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Stats About Life Insurance – The News Ain’t Good

By Byron Udell | September 24, 2014

Recent statistics show that most Americans have little or no life insurance. As Life Insurance Awareness Month approaches, you should be more aware of these stats.

I wanted to take some time to share with you some interesting insurance statistics. While reading them, think about your own situation. Are you underinsured? What would your family do if the unthinkable were to happen. Some of facts from LIMRA International for Life Insurance Awareness Month.

Millions of Americans have no coverage.

  • Only 61 percent of adult Americans have any coverage, a decline from 70 percent in 1984.
  • Only 41 percent of adult Americans have coverage. Many rely on group insurance, leaving them vulnerable if they lose a job.

Most people who have insurance coverage don’t have enough.

  • The average life policy need is about $459,000, but the average policy owned is $126,000. The average underinsurance is more than $300,000.

More after the jump…

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