Life insurance ownership falls 9% in past decade
June 9, 2020 by Insurance Forums Staff
Over the past decade, U.S. life insurance ownership has fallen 9 percentage points to 54%, according to the 2020 Insurance Barometer Study, released this week.
Researchers attribute the drop in ownership to a broad decline in employer-paid group life insurance benefits over the past 10 years.
Despite this drop in ownership, the intent to purchase life insurance is at an all-time high with 36% of Americans saying they intend to purchase life coverage in the next 12 months.