LIMRA – Crump Blog

New LIMRA Research Reveals Women Working with a Financial Professional Are More Confident and Prepared for Retirement

5 Apr

Woman working with a financial professional — Over the past decade, women have said their top financial concern is having enough money for a comfortable retirement. New LIMRA research suggests that those working with a financial professional are more likely than unadvised women to feel very prepared for retirement.

According to LIMRA’s new study, Impact of Financial Professionals on Retirement Security, 40% of women who work with a financial professional report that they feel very prepared for retirement, compared with just 27% of women who don’t work with one. More>>

LIMRA: From Intent to Action: Creating Financial Security for Black Americans

1 Mar

The impact of COVID-19 continues to weigh on Black Americans. According to LIMRA’s latest Consumer Sentiment Study, while Americans’ overall concern about COVID has dropped by half to 25% compared to a year ago, 4 in 10 Black Americans continue to express heightened concern about COVID-19, and 41% report high levels of financial stress in early 2023, compared with just 32% of the general population.

One of the ways Black Americans can improve their sense of financial security is by owning life insurance. According to the 2022 Insurance Barometer Study, 68% of Black Americans who own life insurance feel financially secure, compared to 47% of uninsured Black Americans. More>>

Why Buy Life Insurance? Let Us Count the Ways

13 Feb

British poet Elizabeth Barrett Browning penned the immortal line: “How do I love thee, let me count the ways.” There are many reasons to own life insurance and when you start to count the ways, the reasons all show love of family in many ways. More>>

The Human-Tech Connection – Reaching Consumers Where They Are

4 Jan

Consumer use of social media for financial purposes more than doubled in the last three years, to 53 percent. Today’s consumers use these applications more frequently for financial advice and multiple sites. In 2022, the average user visits almost three sites for the same purpose. Consequently, the definition of “family and friends” pertains to a broader network of consumers now, providing industry professionals with more access points for brand awareness and business development. More>>

Women Double Life Sales, Advisor Study Finds

14 Dec

More financial advisors are getting into insurance and women are outpacing men in business growth, both because of a broader scope of services, according to the latest edition of the experienced advisor study conducted by LIMRA and EY. More>>

Life Insurance: Facts vs Myths

24 Oct

While many of us understand the value of life insurance, millions of families don’t have enough coverage or any coverage at all. In fact, 41 million Americans think they need life insurance coverage but don’t have it (source: LIMRA, 2020). Since the COVID-19 pandemic, the interest in life insurance has increased. So, what’s the holdup? Many people are concerned about the cost or whether they qualify. More>>

Hispanic Heritage Month—and Beyond

15 Sep

We know that the need for life insurance continues to grow, according to the 2022 Insurance Barometer Study, by Life Happens and LIMRA.

In fact, 44% of Americans would feel financial hardship within six months if their household’s primary earner died, with one in 10 saying it would only be a week.
Our same survey also shows that the need for life insurance is heightened in certain communities, with the Hispanic community expressing the highest need: 51% say they need life insurance or more of it.

That is why, as we look toward the start of Hispanic Heritage Month on September 15, we are offering a full suite of resources in Spanish and English, in keeping with Life Happens’ ongoing commitment to reaching the Hispanic community. More>>

Life Insurance Awareness Month (2022)

7 Sep

Every September, the industry — led by Life Happens — comes together to sponsor Life Insurance Awareness Month. Check out the resources that provide insights about what’s impacting life insurance ownership in 2022 and the important role life insurance can play in providing financial security. More>>

Life by the Numbers:
Reaching Out to the Underserved

21 Jul

As the effect of the pandemic fades — with headlines focusing on rising inflation and interest rates — we must be careful not to lose sight of the importance of ensuring that all Americans have appropriate life insurance coverage. Today, while consumer awareness of and interest in life insurance remains high since the onset of the pandemic, according to the LIMRA and Life Happens 2022 Insurance Barometer Study, just half of American adults have any life insurance coverage, a notable decline from 63 percent just a decade ago. More>>

Study Finds Financial Insecurity Across Generations

6 Jul

If you have clients or prospects who cringe at the thought of discussing their life insurance needs, and instead want to talk only about putting together a bullet-proof financial plan, you may be interested in the findings from a new joint study by LIMRA and Life Happens. More>>