The stats are well-known: Less than 60 percent of the United States population has life insurance.
Most consumers think they need more coverage, but don't think they can afford it. In part, this is because the cost of life insurance is not widely understood: 80 percent of consumers misjudge the expense associated with term life insurance.
Despite these challenges, revenue from life insurance premiums is on the rise. In 2014, the most recent year for which SNL Financial has complete published data, revenue from life insurance premiums in the U.S. totaled $133.8 billion, a 6.2 percent increase over the prior year.
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