1. 4330 POINTS
    Jerry Vanderzanden, CLU, ChFC
    Co-Founder, Coastal Financial Partners Group, California
    According to a recent study, 41% of U.S. adults have no life insurance at all. Of those who do, many only have group term life through their employer (will terminate when they leave their employer) typically at amounts like 50,000 or one times salary.

    The average U.S. household with life insurance owns enough to replace only 3.5 years of income (LIMRA 2010 U.S. Life Ownership Study) even though insurance companies will insure those in the 30s or 40's up to 25 times their income or more.
    Answered on April 18, 2013
  2. 10968 POINTS
    Tim Wilhoit
    Owner, Your Friend 4 Life, Brentwood TN
    According to LIMRA, Life Insurance Marketing and Research Association, the nations leading expert on life insurance sales, the average person has a face amount of $165,000 in life insurance. Other interesting statistics on the subject find that 70% of American households admit they would have financial difficulties if the primary wage earner were to die. So, 7 out of 10 people admit they don't have enough life insurance in force. Out of this 70%, 30% of Americans have no life insurance at all, even though we are all guaranteed to die someday. Life insurance is just too important and affordable not to have enough for those loved ones left behind to pick up the pieces. For example, a young healthy 25 year old female can purchase $500,000 in term life insurance for as low as $12.62 per month. It is the most affordable insurance product on the market and yet one of the most under purchased for the level needed.
    Answered on June 11, 2015
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