New data from the 2024 Insurance Barometer Study, from LIMRA and Life Happens, suggest that life insurance ownership remained steady with half of Americans reporting they have coverage.
Many consumers are aware they need (or need more) life insurance, presenting a critical opportunity for the industry to engage, raise awareness, and educate on the importance of life insurance. Understanding the varying levels of financial stress at different life stages for generations is important for aiding and educating prospective life insurance buyers, which over time can bridge the need-gap, and simplify the complicated world of life insurance for consumers.Related Resources
2024 Insurance Barometer Study
The Insurance Barometer is an annual study that tracks the perceptions, attitudes, and behaviors of adult consumers in the United States, with a particular focus on life insurance.
Life Insurance Sales: Trends and Future Outlook (Infographic)
2024 life insurance premium reached record-breaking levels totaling $15.9 billion, up 3% from 2023, while policy sales remained level.
Life Insurance Sales: Trends and Future Outlook
Life insurance premiums reached $15.9 billion in 2024, up 3 percent from 2023. Growth was driven by strong equity markets and innovative product designs. LIMRA’s exclusive forecast anticipates stable sales and no recession; premium growth is expected to stay around 3 percent.
Canadian Individual Critical Illness Insurance Sales
Hit your target? Benchmark individual critical illness new sales, in-force business, and growth rates for 16 Canadian companies. New Q4 2024 data.
U.S. Individual Life Insurance Sales
Size it up — quarterly U.S. individual life insurance sales results reflecting 85 percent of the premium market, as well as annual industry estimates and the comprehensive U.S. Individual Life Insurance Yearbook. New 4Q 2024 Data.
