Life insurance ownership in the U.S. 2011-2024

Published by Jennifer Rudden, Feb 27, 2025

Life insurance ownership in the United States slightly declined again in 2024. In that year, 51 percent of Americans owned life insurance, up from 52 percent in 2023. Life insurance is a contract between an insurer and a policyholder, which is a form of financial protection for named beneficiaries of the insured person in case of their death. In 2023, the most common reason for owning life insurance was to cover burial and final expenses.

Distribution of life insurance ownership in the United States from 2011 to 2024

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Release date

July 2024

Region

United States

Survey time period

2011 to 2024

Number of respondents

4,936 respondents

Age group

18-74 years old

Special properties

adult consumers who are financial decision makers in their households

Method of interview

Online panel

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Segments

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