Overall life insurance coverage remains low in the United States, with 30% of households nationwide having no life insurance at all, according to LIMRA. That's due to a variety of reasons, those in the business say, but the gap presents an opportunity for brokers.
People are simply not buying life insurance because other priorities take precedence. In a LIMRA study, everyday expenses such as energy costs, food, clothing and transportation were cited by more than half of consumers as limits on their ability to save for their financial goals.
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