[et_pb_section fb_built=”1″ _builder_version=”3.27.4″][et_pb_row _builder_version=”3.27.4″][et_pb_column type=”4_4″ _builder_version=”3.27.4″][et_pb_text _builder_version=”3.27.4″]<\/p>\n
Each year, Life Happens and LIMRA join forces to take consumers\u2019 \u201cfinancial pulse.\u201d The 2019 Insurance Barometer Study<\/a> continues to track Americans\u2019 financial concerns as well as what types of insurance coverage they have or feel they need. We also explore some \u201chot topics\u201d like gaining life insurance coverage through the easier, quicker simplified underwriting process, and how social media is changing the way people find financial professionals to work with.<\/p>\n Here are some of the key findings \u2026 for the complete study, go to www.lifehappens.org\/barometer<\/a>.<\/p>\n [NOTE: If you use these stats in other materials, please source as \u201c2019 Insurance Barometer Study, Life Happens and LIMRA\u201d<\/strong>]<\/p>\nOnly 20% of Americans have disability insurance to protect their income, in case they get sick or injured and are unable to work. #Barometer2019 <\/a><\/span>Share on X<\/a><\/span>\nOver half of Americans thinks the cost of a term life insurance policy is 3x or more than its actual cost. #Barometer2019 <\/a><\/span>Share on X<\/a><\/span>\n42% of Millennials estimate the yearly cost for a $250,000 20-year term life insurance policy for a healthy 30 y\/o at $1000+. Actual cost: $160\/year. #Barometer2019 <\/a><\/span>Share on X<\/a><\/span>\n1 in 5 Americans is actively searching for a financial professional to work with. #Barometer2019 <\/a><\/span>Share on X<\/a><\/span>\n42 million people are currently in the market for financial guidance. #Barometer2019 <\/a><\/span>Share on X<\/a><\/span>\n34% of those looking for a financial professional say they\u2019d research them via social media. #Barometer2019 <\/a><\/span>Share on X<\/a><\/span>\nOf those who are using social media to research financial professionals, half are Millennials. #Barometer2019 <\/a><\/span>Share on X<\/a><\/span>\n85 million Americans use social media to learn more about financial advisors. #Barometer2019 <\/a><\/span>Share on X<\/a><\/span>\nPeople like simple and easy, when it comes to getting life insurance. No surprise that half (47%) like this about simplified underwriting vs. traditional underwriting. #Barometer2019 <\/a><\/span>Share on X<\/a><\/span>\n117 million Americans say they\u2019re more likely to buy life insurance if the process is simple, fast and transparent. #Barometer2019 <\/a><\/span>Share on X<\/a><\/span>\nAffordability and value are two obstacles that stop Americans from buying life insurance. But more than half overestimate its true cost by 3x or more. #Barometer2019 <\/a><\/span>Share on X<\/a><\/span>\nAbout 1 in 5 Americans said they're likely to buy a life insurance policy that combines features like long-term care. #Barometer2019 <\/a><\/span>Share on X<\/a><\/span>\nMore consumers say they need insurance products than say they own them. #Barometer2019 <\/a><\/span>Share on X<\/a><\/span>\n [\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section]<\/p>\n","protected":false},"excerpt":{"rendered":" Each year, Life Happens and LIMRA join forces to take consumers\u2019 \u201cfinancial pulse.\u201d The 2019 Insurance Barometer Study continues to track Americans\u2019 financial concerns as well as what types of insurance coverage they have or feel they need. We also explore some \u201chot topics\u201d like gaining life insurance coverage through the easier, quicker simplified underwriting […]<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_et_pb_use_builder":"on","_et_pb_old_content":"","_et_gb_content_width":"2880","footnotes":""},"categories":[4],"tags":[69,64,67,71,14,70,66,65,68,72,20,73],"class_list":["post-1185","post","type-post","status-publish","format-standard","hentry","category-life-insurance","tag-2019-insurance-barometer-study","tag-disability-insurance","tag-financial-advisor","tag-financial-professional","tag-life-insurance","tag-life-insurance-agent","tag-limra","tag-long-term-care-insurance","tag-simplified-underwriting","tag-social-media","tag-term-life-insurance","tag-transparency"],"acf":[],"yoast_head":"\n