LexisNexis® Risk Solutions is a proud sponsor of the Life Lessons Scholarship Program
Created in 2005 by Life Happens, the Life Lessons Scholarship Program seeks to provide financial scholarships to college students who have lost a parent or guardian with little or no life insurance.
The life insurance need gap is a well-documented problem in the United States. It measures those consumers who say they ‘need’ life insurance and those who say they ‘have’ life insurance . According to the latest 2022 LIMRA Barometer Study, the unmet need for life insurance has more than doubled over the last 12 years. Back in 2011, 70 percent of respondents reported that they needed life insurance, while 63 percent said they had it, a 7-point gap between the two metrics. Fast forward to 2022, the gap between need-and-have is a staggering 18 points1.
The 2022 LIMRA Barometer Study once again highlighted the reasons why more U.S. consumers do not have any or enough life insurance: