Fed Sees Drop in Cash-Value Life Ownership
October 24, 2023 by Allison Bell
The Federal Reserve Board sees the percentage of U.S. households with cash-value life insurance dropping.
The share of households with that asset fell to 16.1% in 2022, from 19% in 2019. it was 35.5% in 1989, according to the Fed’s latest Survey of Consumer Finances report.
Wink’s Moore on the Market: This survey surprised me.
Only 16.1% of households have cash value life insurance?
They say that “the mean value of that asset increased to $55,270.” I am guessing that is the death benefit, rather than the cash surrender value.
Plenty of statty stat stats for you to enjoy here. -sjm