U.S. life insurance: total number of policy purchases 1998-2018

In 2018, approximately 27.8 million life insurance policies were purchased in the United States.

Life insurance – additional information

A life insurance policy is a contract between a policy holder and an insurer, which provides that the insurer will pay out a lump sum to a designated beneficiary in the event of the policyholder’s premature death in exchange for a premium. Parents, homeowners and business owners are the groups most likely to take out a life insurance policy, because they want to provide for their family, ensure that the mortgage or creditors are paid off in the event of their death.

Life insurance is increasingly popular in Europe. UK-based Prudential held the top position in the European life insurance market with a market value of 60.2 billion U.S. dollars as of May 2019. In 2018, there were more than 900 thousand people employed in the European market.

Number of life insurance policy purchases in the United States from 1998 to 2018

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Sources

Release date

October 2019

Region

United States

Survey time period

1998 to 2018

Special properties

includes individual and group life insurance policies.

Supplementary notes

Since 2003 includes fraternal benefit societies.
Figures have been rounded.

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Statistics on "Life insurance in the United States"

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