How Common Misconceptions Are Preventing Americans From Getting Life Insurance They Know They Need
April 20, 2021 by 2021 Insurance Barometer Study
Arlington, Va. and Windsor, Conn., April 12, 2021 – Despite record-high consumer intent in purchasing life insurance, new research finds too many Americans mistakenly feel life insurance is financially out of reach or too difficult to obtain. According to the 2021 Insurance Barometer Study, 36% of consumers say they plan to purchase life insurance within the next 12 months, which represents the highest purchase intent in the survey’s history.
Even with this increased interest, there are 102 million uninsured and underinsured Americans who believe they need to buy life insurance or to increase their coverage. This represents 40% the adult population. The question is why don’t they buy?