Life Insurance Facts – Western & Southern
January 9, 2018
84% of Americans would agree most people need life insurance, yet when asked, only 70% said they needed any. (Insurance Barometer Study Limra & Life Foundation 2017)
In the event of a tragedy, life insurance can help pay bills, continue a family business, finance children’s education and protect spouse’s retirement plan. (LIFE Happens, 2017)
If the primary wage earner died, 62% of families would immediately have trouble meeting everyday living expenses. 43% of families would have trouble meeting expenses after several months. (Trends in Life & Insurance Ownership Limra 2016)
One in Five households with children under age 18, have no insurance whatsoever. (Limra Facts About Life2016)
Over 100 million adults without life insurance in the United States (“2015 Insurance Barometer Study”, Ashley Durham, LIMRA and Life Happens, April 14, 2015)
7 in 10 U.S. households own life insurance on average the only own enough to replace their household income for 3 years (2016 Insurance barometer Limra)
Almost 45% of U.S. Households say they are likely to buy life insurance in the next 12 months. (Limra Facts About Life 2016)
43% of those age 25-44 are concerned with leaving dependents in a difficult situation should they die prematurely. (2015 Insurance Barometer Study, Life Happens and LIMRA)
Top three reasons for not having life insurance are: 66% say it’s just too expensive for them. 66% say other financial priorities take higher precedence. 54% feel they have as much as they need right now. (Insurance Barometer Survey, 2017)
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Western & Southern Financial Group
The Western and Southern Life Insurance Company, Cincinnati, OH, operates in DC and all states except AK, CT, ME, MA, NH, NY, and VT. Western-Southern Life Assurance Company, Cincinnati, Ohio, operates in DC and all states except AK, ME, NH, NY, and RI.
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