Insurance News‎ > ‎

Life Insurance

posted Apr 9, 2011, 11:52 PM by Ryan Lange   [ updated Aug 3, 2011, 10:06 AM ]
By Sandra Block, USA TODAY
The percentage of U.S. households with life insurance coverage is at its lowest in 50 years, leaving millions of families without a safety net, industry experts say.

Only 44% of households have an individual life insurance policy, and 30% have no individual or employer-provided life insurance, according to a recent survey by LIMRA, an industry-sponsored group. Some 11 million households with children younger than 18 — viewed as families with the greatest need for coverage — have no life insurance.

The drop in insurance coverage comes at a time when premiums for term life insurance are significantly lower than they were a decade ago. For example, a 35-year-old healthy man can purchase a $500,000, 20-year term policy for about $25 a month, according to ING, a financial institution that sells life insurance. Behind the decline: