Life Groups Unite Against Coverage Gap
Campaign organizers say the average household needs $200,000 in additional protection.
Seven life insurance groups are joining to support a life insurance awareness campaign.
The new Help Protect Our Families campaign will highlight the need for life insurance, and it will help the participating organizations share data and ideas, LL Global said today.
(Related: Let’s Protect More Americans Against the Risk of Death: LIMRA CEO)
LL Global is the Windsor, Connecticut-based parent of LIMRA and LOMA.
The other organizations backing the effort are the American Council of Life Insurers, Finseca, Life Happens, the Million Dollar Round Table, the National Association of Insurance and Financial Advisors and the National Association of Independent Life Brokerage Agencies.
Campaign organizers point to research, sponsored by LIMRA and Life Happens, showing that only about 54% of U.S. households had life insurance in 2020, down from 63% in 2010.
LIMRA has estimated that the country has about 60 million uninsured and uninsured households, with an average coverage gap of $200,000.
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