Lack of Knowledge and Confidence Deter Women from Purchasing Life Insurance

10 Mar

To get a better understanding about why some women were reluctant to purchase life insurance coverage and their perceptions about the process and the industry, LIMRA conducted a qualitative study in February 2022, speaking to women about their financial priorities, their perceived barriers to purchasing life insurance, and how the industry can adjust to better serve them. More>>

LIMRA: Significant Life Insurance Coverage Gap Remains in Black American Community

23 Feb

Black Americans recognize the important role life insurance plays in protecting their loved ones. According to the 2021 Insurance Barometer study, conducted by LIMRA and Life Happens, 56% of Black Americans own life insurance, which is higher than the national average (52%). Yet 46% of Black Americans — representing 20 million adults — say they need (or need more) life insurance coverage, which indicates a substantial coverage gap in the Black American community. More>>

Keep Life Insurance Buyers Awake Now: Faisa Stafford

22 Dec

Faisa Stafford is the face of the life insurance community’s effort to help Americans deal with the possibility that they could die. As the CEO of Life Happens, she organizes national personal protection insurance literacy efforts. Stafford answers a set of questions, including what she suggests advisors do now or consider doing in the future about life insurance. More>>

Life Insurers: Lessons from The Past, Looking Toward The Future

8 Dec

Will the life insurance industry see a repeat of what happened after a historic pandemic swept the world about a century ago? As life insurers ride a wave of increased sales in the wake of COVID-19, one industry leader looked to the Spanish flu pandemic of 1918-19 and expressed his hope that a post-pandemic sales slump won’t be around the corner. COVID-19 made consumers more aware of their mortality and more aware of why they need life insurance. More>>

Life Insurance Is a Key Component of Middle-Income Families’ Financial Security

27 Oct

Middle income families recognize the importance of life insurance. According to the 2021 Insurance Barometer Study, conducted by LIMRA and Life Happens, 70% of middle-income consumers (household income $50,000 to $99,999) believe they need life insurance coverage and more than a third (34%) say they plan to purchase coverage in 2021. More>>

Life Insurers Have Significant Opportunity with the Hispanic Community

6 Oct

While the Hispanic community is very diverse, comprising of heritages from across Latin America, Central and South America, and the Caribbean, they share common cultural values, especially around the importance of family. These values are reflected in their financial priorities and concerns.

In honor of Hispanic Heritage Month, LIMRA has collected 15 facts about Hispanic consumers and life insurance. More>>

September is Life Insurance Awareness Month

1 Sep

Guest contributor: Alysia Bell, insurance strategist at Crump Life Insurance Services.

If there is one thing we’ve learned through the pandemic, it’s that life is fragile and it’s important to prepare for the unexpected. Our hope is that this heightened awareness will encourage more Americans to get the life insurance coverage they need.

Recent LIMRA research shows that 36% of Americans plan to purchase life insurance this year. More>>

The Time is Right to Close the Life Insurance Gap

19 May

In 2010, 63% of Americans had life insurance, according to LIMRA. By last year, that number had dropped to just 54%. LIMRA’s research also revealed that 30 million American families lack life insurance, and another 30 million more are underinsured. That is a tremendous gap that leaves far too many families at risk. More>>