Key Facts about the Life Insurance Crisis

The United States is in the midst of a severe life insurance crisis (see our Twitter hashtags for #LifeInsuranceCrisis and #GotLife about the significance of this challenge).

According to LIMRA, failure to buy life insurance, or not having enough life insurance, can leave a family in financial ruin. LIMRA also reports, in an article (“Closing the Life Insurance Gap: One Household at a Time”) about this subject, that there is a $15 trillion (in unmet needs) life insurance crisis.

Since the release of these numbers, other groups estimate the size of the emergency to be closer to $20 trillion.

Either way, among U.S. households, the percentage of families with life insurance is at a 50-year low.

At least 70% of those households would be unable to meet everyday living expenses within a few months if a primary wage earner were to die today.

Bottom line: Individual families are on the brink of a massive “Quiet Depression,” making them vulnerable to a series of problems that life insurance can help each group avoid.

Taking Action to Prevent a Financial Tragedy: The Local Life Agents Difference

The best way to solve America’s life insurance crisis is with education. Give consumers options, plural, by explaining to them – in an easy to understand way – how the process of buying life insurance works.

Our Buyer’s Guide to Life Insurance, does just that: It is a comprehensive overview about the various types of life insurance that a person may be eligible to purchase, based on that individual’s financial and physical health, as well as that man or woman’s economic goals and budget.

This guide simplifies an otherwise complex issue – trying to buy life insurance is often a source of confusion and frustration – by describing, with rich detail and original content, how this system works.

Think of this material, condensed into eight essential chapters, as your go-to, must-have resource for independent, unbiased knowledge (not opinion) about the factors governing the sale or purchase of life insurance.

Our Exclusive Quote Engine: Delivering Instant Insurance Eligibility and Precise Coverage Costs

Our exclusive Quote Engine, which is the result of our proprietary technology, and extensive research and development (including having run more than 15,000 quotes over the course of a career), empowers customers.

The Quote Engine is so precise – and effective – because it shows customers the costs of various life insurance policies, and it reveals the prices for each rate class from each company. It also uncovers what No Exam policies are available, along with rates from the three best No Exam carriers.

A Declaration of Independence: A Voice, Not an Echo

Aside from all this worthwhile material, and regardless of how informative and helpful our content is, Local Life Agents exceeds these standards by delivering its own declaration of independence.

We remain the first – and the most active – presence on Twitter (@LocalLifeAgent), reiterating the importance of learning about the country’s #LifeInsuranceCrisis while encouraging followers to make sure they #GotLife.

We offer a voice, not an echo, which resonates with customers throughout the United States. Our message, along with the customized service we provide and the intelligence and wisdom we possess, is a statement of principles; that we will always answer your questions, and that we will always make ourselves available, so you can buy life insurance with the confidence and convenience you deserve.

Solving this crisis is our priority because, since we have the freedom to present you with a multitude of choices, we want to ensure you have the life insurance you need – at the right price, for the right reasons, right now.