Despite Attractive Life Insurance Rates - Policy Ownership Lowest in Decades

Recent industry reports indicate that life insurance rates are the lowest and most attractive that they have been in a long time. Yet despite this statistic, life insurance policy ownership is less then it has been in decades.

The Trends in Life Insurance Ownership study, which is conducted about every six years by the insurance industry "Think Tank" - LIMRA, reported that only 44 percent of U.S. households have an individual life insurance policy.

The study also reported that the number of US households that have any kind of life insurance policy at all (individual or employer based group life insurance) is increasing. According to LIMRA nearly 35 million households or 30%, have absolutely no life insurance coverage whatsoever. In 2004 that number was only 22%.

Perhaps even more disturbing was the result of the study that indicated that of households with children under the age of 18 - who probably have the greatest need for parents with life insurance -11 million do not have any coverage. This all is going on despite a poor economy that has left more Americans out of work, and with little to fall back on in the case of financial crisis.

LIMRA believes that the statistics are a reflection of more Americans living paycheck to paycheck. They believe that they have more important priorities than life insurance. It is a grim picture that is not entirely true. Life insurance rates, especially term life insurance rates, for young healthy individuals are lower and more affordable than ever. Even families on a tight budget should not overlook the value and piece of mind that life insurance can bring. LIMRA urges people who are going without life insurance to reconsider, and think about who would take care of their families in the case of their untimely death?

At today's life insurance rates, a $250,000.00 Term life insurance policy for a 30 year-old non-smoking male could cost as little as $25.00 per month. That's less than the price you pay for a Latte everyday - wouldn't you rather make a pot of coffee at home, and put that towards the security of your loved ones?

You can get a Free Quote on Term Life, or compare any kind of life insurance rates, here at lifeinsurance.org.

Affordable Life Insurance Rates
Are Waiting For You!
Choose Your State

Related Information

5 Reasons You Should Purchase Life Insurance

If anyone depends on you financially, life insurance shouldn't be an afterthought. Here are 5 reasons you should consider purchasing life insurance.

Read More

Types of Life Insurance

There are two main types of life insurance: permanent life insurance and term life insurance.

Read More

The Difference Between Term and Whole Life Insurance

Term and whole life insurance are two of the most popular kinds of life insurance policies. Read on to learn how they work.

Read More

Non-Life Insurance Explained

There's life insurance and there's non-life insurance. Learn about what life insurance is and what types of insurance are recommended for you.

Read More

Buying Term Life Insurance Directly from an Insurance Company

If you need life insurance coverage, you should consider directly purchasing term life insurance directly from an agent. Here’s why.

Read More

What Is Level Term Life Insurance?

A level term life insurance policy can serve as a financial safety net during important periods in your life.

Read More

Do You Have To Have Life Insurance With A Mortgage?

You aren't required to have life insurance to get a mortgage, but having a life insurance policy while you are making mortgage payments could be beneficial.

Read More

Why Have Life Insurance?

Here are 7 essential reasons for you to have life insurance. Compare term and whole life insurance and find a policy that's right for you and your family.

Read More

How to Decide Whether You Need Supplemental Life Insurance

Is your employer’s life insurance coverage enough for you and your family? If not, here’s why you should consider a supplemental life insurance policy.

Read More