Mapping Life Insurance Participation and Protection Levels by State

This report details how life insurance access and spending vary by location and where families may be most at risk of being underinsured. It also breaks down the basics of life insurance — how it works, how much you might need, and how to choose the right policy for your goals.

Key Takeaways

• • 49% of Americans don’t have life insurance.
  • Just 36% of Gen Z adults have life insurance, the lowest of any generation.
  • Men are 24% more likely than women to have life insurance.
  • South Dakota spends the most on life insurance premiums per person ($2,100), while Oregon, New Mexico, and Maine pay the least (less than $370).
  • Life insurance coverage varies widely by state: Alabama has nearly one policy per person (0.91), while Arizona has fewer than 1 for every 4 residents (0.23).
  • West Virginia has the highest mortality rate (1,116 deaths per 100,000) but only 0.47 life insurance policies per capita.
  • New York and California have some of the lowest mortality rates (665 and 686 deaths per 100,000) and some of the lowest coverage rates (0.34 and 0.26 policies per capita).

READ THE COMPLETE REPORT HERE

Originally posted at: Western & Southern Financial Group