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 2023 LIMRA Barometer Study, 41 percent of American adults say they need life insurance or need to obtain more life insurance coverage. This suggests the total life insurance need-gap encompasses 101 million adults and represents a 6% increase from 2011.1
The 2023 LIMRA Barometer Study once again highlighted the reasons why more U.S. consumers do not have any or enough life insurance: