U-S-A TODAY took a look at life insurance recently … and found the percentage of U.S. households with life insurance coverage at its lowest level in 50 years.
An industry-sponsored group called LIMRA found that 44% of household have an individual life insurance policy, and 30% have no individual or employer-provided life insurance. Some 11 million households with children younger than 18 … viewed as families with the greatest need for coverage … have no life insurance at all.
This comes at a time when premiums for term life insurance are significantly lower than they were a decade ago.
More than 40% of families said they haven’t purchased life insurance because they have other financial priorities.
LIMRA reports that nearly 80% of families don’t have a personal insurance agent or broker.
LIMRA also reports that in 2010 there were 184,873 “affiliated agents” in the U.S. … down from 246,000 two decades ago.
My wife and I have several life insurance policies. If you don’t, you should think about it.
Our thought for today is from Stephen Leacock:
“I detest life insurance agents; they always argue that I shall some day die, which is not so.”