Life Insurance Facts and Figures

A woman is undergoing a medical examination by a doctor for life insurance purposes.

How Many People Are Currently Protected?

Only 62% of Americans claim to have life insurance, though 85% agree that most people need it. We find that many of our clients are surprised by the amount of life insurance they can get within their budget.

Cost Is the Primary Reason People Choose Not to Own Life Insurance

However, 80% of people overestimate the cost of term life – with millennials assuming the cost to be 213% higher than it truly is.1

Reasons You Should Consider Owning Life Insurance Sooner Rather Than Later

70% of families with dependents under the age of 18 state they would have significant difficulties covering the costs of everyday life within a few short months if the primary jobholder were to pass away.2

Furthermore, 40% of these families with dependents under 18 fear they would have immediate trouble keeping up with daily living expenses if the primary wage-earner were to die.2

Let Us Provide You with the Peace of Mind You and Your Family Deserve

With the countless twists, turns and incidents life throws at us, it’s important that you take the time now, while you’re alive and well, to establish a life insurance plan that ensures your survivors will continue to be financially secure should you pass away. When you’re ready to start putting a plan in place, contact Primary Care Insurance Solutions licensed insurance agents to request a quote today!

1. Https://www.lifehappens.org/industry-resources/agent/barometer2015/
2. LIMRA Household Trends in U.S. Life Insurance Ownership, 2010

Frequently Asked Questions

What percentage of Americans claim to have life insurance, and how many agree that most people need it?

62% of Americans claim to have life insurance, and 85% agree that most people need it.

What is the primary reason people choose not to own life insurance?

The primary reason people choose not to own life insurance is the cost. 80% of people overestimate the cost of term life, with millennials assuming the cost to be 213% higher than it truly is.

What difficulties might families with dependents under 18 face if the primary jobholder passes away?

70% of families with dependents under the age of 18 state they would have significant difficulties covering the costs of everyday life within a few short months if the primary jobholder were to pass away. Additionally, 40% of these families fear they would have immediate trouble keeping up with daily living expenses if the primary wage-earner were to die.

Why is it important to consider owning life insurance sooner rather than later?

It is important to consider owning life insurance sooner rather than later because it ensures that your survivors will continue to be financially secure should you pass away. With the countless twists, turns, and incidents life throws at us, it’s crucial to establish a life insurance plan while you’re alive and well.

How can I start establishing a life insurance plan?

To start establishing a life insurance plan, you can contact Primary Care Insurance Solutions licensed insurance agents to request a quote.

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