LIMRA Consumer Research
Industry Issues
Our Ownership Study, an industry leader beginning in 1960 is now in its eighth edition. It provides a fascinating glimpse into American financial culture and illuminates major trends and key opportunities in the marketplace. Find out how to navigate today's life insurance industry with renewed confidence. Keep up with today's consumers — and at the same time, learn about ownership levels, buying patterns, and attitudes — so your company can continue to thrive even in these changed times. We will release in-depth reports from multiple perspectives now and throughout 2017.Key Findings
The number of U.S. households owning life insurance (87.2 million) grew by 4.9 million over the last six years.
The overall ownership rate (market penetration) is 70 percent, unchanged from 2010.
The average amount of coverage owned and the average household income replacement ratio have decreased over the past 12 years leaving many households underinsured.
Almost half of all U.S. households have a life insurance need gap. The total market need is at least $12 trillion. Market need will grow by approximately 2.8 percent annually. This means an additional $340 billion of new life insurance need enters the market each year.