Only about half of Americans own individual life insurance, though many more say they need more coverage. While over half of people say they plan to buy life insurance, only one in ten actually purchase it each year. The document raises questions about what financial resources a family would have if the primary income earner passed away unexpectedly and stresses that life insurance can help provide for a family's future security and maintain their standard of living.
2. One out of every three Americans does not own life insurance. Only 48% own any individual life insurance. 60 Million Americans say they need more life insurance. 50 Million say they plan to buy life insurance, but only 10 Million actually purchase it each year. (LIMRA Studies, 2006)
3. If you died today and you and your paycheck were gone…