U.S. Households Without Life Insurance Reaches 50-Year High
August 29th, 2010New data from industry-funded research firm Limra has revealed that nearly a third of U.S. households have no life insurance coverage. According to the firm, this is the highest percentage of households going without insurance in five decades.
Millions Are Uninsured
The report found that about 35 million (about 30 percent) U.S. households are without both their own life insurance policies and a policy covered under their employer-sponsored plans. This number is up from 24 million (or 22 percent of households) in 2004.
With only slightly over two-thirds of households having coverage, the percentage is a considerable drop from the over 80 percent of households that held coverage in 1960.
Tags: High, Life Insurance