With disposable income at an all-time low, American families have to make difficult decisions on what financial priorities take precedence. Unfortunately, life insurance is not at the top of the list.  

• Thirty percent of U.S. households have no life insurance at all; only 44 percent have individual life insurance.
•  Fifty percent of U.S. households (58 million) say they need more life insurance.
•  The average amount of coverage for U.S. adults has declined to (167,000) , down $30,000 from the average coverage in 2004.
• While 4 in 10 households with children under 18 now include a mother who is either the sole or primary earner for her family yet, among women who have life insurance, their coverage is only 69 percent of the average coverage on men. 
    

   

  Other Financial Priorities Compete with Life Insurance

• "Everyday expenses" such as energy costs, food, clothing and transportation were cited by more than half of consumers surveyed as limits on ability to save for financial goals.
•  When surveyed on financial issues, "money for a comfortable retirement" was the top pick of 67 percent of consumers. By contrast, concerns that life insurance coverage traditionally addresses (such as premature death, funeral expenses and leaving an inheritance) registered as a top priority for less than 40 percent of consumers surveyed.  
• Consumers who believe they need life insurance, 86 percent haven't bought it because they think it is too expensive.  
• Middle-income consumers are more concerned with reducing debt and having more money for retirement than other income groups