Why is it important to have a life insurance policy?
Life insurance is important, as it protects your family and lets you leave them a non-taxable amount at the time of death. It is also used to cover your mortgage and your personal loans, such as your car loan. Your individual life insurance follows you when you retire and you are no longer insured by your employer.
How many households have no life insurance?
While more American households have insurance, many still need life insurance: In 2016, there are nearly 5 million more U.S. households that have life insurance coverage, compared with 2010 results. However, 30 percent of households (37.5 million) remain uninsured.
What is life insurance Month?
September is Life Insurance Awareness Month, a campaign sponsored by industry leaders to educate consumers on the importance of life insurance as a part of financial planning.
How many members does LIMRA?
About LL Global LL Global represents more than 1,100 members, including most of the world’s largest life insurance companies, in 71 countries worldwide. Together, they provide members with substantive, timely, and relevant research and education.
How did life insurance start?
The first American insurance company was organized by Benjamin Franklin in 1752 as the Philadelphia Contributionship. The first life insurance company in the American colonies was the Presbyterian Ministers’ Fund, organized in 1759. By 1820 there were 17 stock life insurance companies in the state of New York alone.
Who buys life insurance the most?
More than 8 in 10 families in the United States have some form of life insurance coverage today. Most people who own life insurance are family breadwinners who want to make sure that in the event they die, the future financial needs of dependents, such as a spouse, children or elderly parents, are met.
What race buys the most life insurance?
Its 2021 Barometer Study says that 56 percent of Black Americans have now purchased life insurance policies in the last year, which is the highest rate among all racial groups.
Where is Limra based?
Windsor, CT
LIMRA is a worldwide research, learning and development organization….Overview Suggest Edit.
| Type | Private | |
|---|---|---|
| Founded | 1916 | |
| HQ | Windsor, CT, US | Map |
| Website | limra.com | |
| Employee Ratings | 3.4 | More |