Facts About Life 2019

Table of Contents

Facts from LIMRA

Who owns life insurance

  • More than half of American adults (57%) own some type of life insurance.
  • Three in 10 Americans have life insurance coverage at work; 4 in 10 Americans have individual coverage.
  • Women are less likely to own life insurance than men. Just 56% of women own life insurance, compared with 62% of men.
  • Only 4 in 10 children (under 18) own any life insurance.

Why do Americans own life insurance?

  • Half of consumers say they would use life insurance proceeds to replace income if the primary wage-earner died.
  • The top three reasons Americans give for owning life insurance:
    1. Cover burial and final expenses (91%)
    2. Help replace lost wages/income of a wage earner (66%)
    3. Transfer wealth or leave an inheritance (63%)

What prevents consumers from owning life insurance?

  • The top three reason to not purchase (or to not purchase more) life insurance:
    1. It is too expensive (63%)
    2. Have other financial priorities (61%)
    3. Already have enough coverage (62%)
  • Millennials are the most likely to overestimate the price of term life insurance. Four in 10 millennials estimated the cost of a $250,000 term life policy for a healthy 30-year-old at $1,000 or more (actual average cost is $160 per year).


Why Sandpiper Insurance?


John began his career in the insurance industry in 1996 with MetLife in Pembroke Pines. There he developed his foundation in the industry on income protection, primarily through life and disability. In 2009 he moved to become an independent insurance agent to better serve his clients.


John earned his BA in Economics at the University of Miami. In his first 3 years at MetLife he achieved his LUTCF designation. His approach is custom design solutions based on the goals of his clients.

We work for you!

As an independent insurance agency, at Sandpiper Insurance we have the flexibility to find solutions to fit the goals and needs of our clients. Numerous variables are considered before making a recommendation.

We only work with A rated insurance carriers.