2018 Insurance Barometer Study gathers information from consumers to determine trending topics about
financial concerns and insurance coverage. Below, we explain some of the
major findings from the study to help you decide if you need to get additional
- Consumers in 2018 have a better outlook on their economic situation than
consumers in 2017.
- The top financial concern among respondents was whether they could afford
to comfortably retire.
- 3 out of 5 adults have life insurance through either a personal or work policy.
- 1 out of 5 people with life insurance think they don’t have enough coverage.
- 90% of people believe that a family’s primary wage earner should
have a life insurance policy.
- 1 out 5 people without life insurance say they need coverage.
- More than 35% of households would struggle financially within a month after
the highest earner passed away.
- 61% of people cite “other financial priorities” as the main
reason they haven’t purchased life insurance.
- Half of adult consumers have checked out a life insurance company website
or asked for information online.
- 44% of Millennials overestimate the cost of life insurance by as much as
5x the actual amount.
- More than half of Millennials say they would research life insurance online,
but would rather buy a policy from a professional.
- 50% of consumers say they are more likely to buy life insurance if a physical
examination didn’t impact the pricing.
- The number of consumers who say they would research and buy life insurance
online went up from 22% to 29%.
- 54% of Millennials tend to ask their friends and followers on social media
for life insurance recommendations.
- 67% of consumers refuse to buy a policy from an agent with a website that
is difficult to navigate.
- 37% of consumers have a primary financial advisor, while 14% are looking for one.
- More than 40% of Boomers have a primary financial advisor.
- 1 out of 3 Gen Xers and Millennials have a primary financial advisor.
- 50% of Gen Xers and Millennials do not want the services of a primary financial advisor.
Only 20% of workers have
disability insurance, but over 1/3 of workers cited becoming disabled as a primary concern.
Ask About Our Life Insurance Policies Today
At Insurance Specialists, Inc., we understand that life insurance is an
important safety net that your family will need when you are gone. Don’t
wait until it’s too late to take action, speak to our insurance
administrators about our policies and how to protect your family’s future.
Call (888) 451-0883, or
contact our Atlanta insurance administrators to schedule an appointment.