Industry sources report that seven in 10 U.S. households own life insurance.
The average U.S. household with life insurance owns enough to replace 3.5 years of income, an amount consistent across all income groups. As reported in the September issue of Best’s Review, the average policy issued in 2011 was $174,178.
Leading the industry in group life issued were MetLife, Prudential, Securian, Cigna and Unum.
Leading in the non‐group – or ordinary life – marketplace were MetLife, Northwestern Mutual,
ING, New York Life and State Farm Life.
Most individual life insurance policies in force are permanent (71%) rather than term (29%)