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U.S. life insurance: number of policies in force 2008-2017
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U.S. life insurance: number of policies in force 2008-2017
Total number of life insurance policies in force in the United States from 2008 to 2017 (in millions)
by Jennifer Rudden,
last edited
Jul 17, 2019
This statistic depicts the total number of life insurance policies in force in the United States from 2008 to 2017. In 2017, there were approximately 288.86 million of life insurance policies in force in the United States.
Life insurance policies – additional information
The year after the economic recession, the total number of life insurance policies in force dropped from around 335 million to 289 million. When money is tight, it appears that consumers think life insurance is something they can’t afford, instead of a tool which can be used to protect their loved ones in an emergency. Furthermore, even though the economy has since improved, the number of life insurance policies which people have has not been able to bounce back to what it was before the crisis.
While the face value of individual policies shows an upward trend as does the face amount of all policies since 1992, both show only a partial recovery since 2008. Furthermore, the number of life insurance policy purchases seems to have been on the decline since well before the crisis.
So what is actually important for consumers when it comes to life insurance? According to a consumer study carried out in January 2017, the most important factors for consumers involved being certain that they understand what they are buying and the ability to chat with a person. This means that clarity and communication are vital.
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by Jennifer Rudden,
last edited
Jul 17, 2019
This statistic depicts the total number of life insurance policies in force in the United States from 2008 to 2017. In 2017, there were approximately 288.86 million of life insurance policies in force in the United States.
Life insurance policies – additional information
The year after the economic recession, the total number of life insurance policies in force dropped from around 335 million to 289 million. When money is tight, it appears that consumers think life insurance is something they can’t afford, instead of a tool which can be used to protect their loved ones in an emergency. Furthermore, even though the economy has since improved, the number of life insurance policies which people have has not been able to bounce back to what it was before the crisis.
While the face value of individual policies shows an upward trend as does the face amount of all policies since 1992, both show only a partial recovery since 2008. Furthermore, the number of life insurance policy purchases seems to have been on the decline since well before the crisis.
So what is actually important for consumers when it comes to life insurance? According to a consumer study carried out in January 2017, the most important factors for consumers involved being certain that they understand what they are buying and the ability to chat with a person. This means that clarity and communication are vital.
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- Release date
- October 2018
- Region
- United States
- Survey time period
- 2008 to 2017
- Supplementary notes
- Figures have been rounded.
Source
- Show sources information
- As a Premium user you get access to the detailed source references and background information about this statistic.
- Show publisher information
- Release date
- October 2018
More information
- Region
- United States
- Survey time period
- 2008 to 2017
- Supplementary notes
- Figures have been rounded.
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Statistics on "Insurance industry in the United States"
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- Leading life insurance/annuities companies in the United States 2017, by direct premiums written (in billion U.S. dollars)Leading U.S. life insurance/annuities companies, by direct premiums written 2017
- Advertising spending of selected insurance brands in the United States in 2017 (in million U.S. dollars)Ad spend of selected insurance brands in the U.S. in 2017
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- Total number of life insurance policies in force in the United States from 2008 to 2017 (in millions)U.S. life insurance: number of policies in force 2008-2017
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Statistics
- U.S. group life insurance payments to beneficiaries 2017, by state
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- Life insurance worldwide
- Life insurance in the United States
- Life insurance in Italy
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- European Insurance - Key Facts
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Statistics on "Insurance industry in the United States"
- Largest insurance companies in the United States in 2018, by total assets (in billion U.S. dollars)
- Leading mutual property/casualty insurance companies in the United States in 2018, by revenue (in billion U.S. dollars)
- Leading health insurance companies in the United States in 2018, by direct premiums written (in billion U.S. dollars)
- Leading stock life and health insurance companies in the United States in 2018, by revenue (in billion U.S. dollars)
- Leading mutual life and health insurance companies in the United States in 2018, by revenue (in billion U.S. dollars)
- Leading life insurance/annuities companies in the United States 2017, by direct premiums written (in billion U.S. dollars)
- Advertising spending of selected insurance brands in the United States in 2017 (in million U.S. dollars)
- Number of employees in the insurance industry in the United States from 1960 to 2017 (in millions)
- Average Net Promoter Score (NPS) of selected insurance branches in the United States in 2019
- Impact of selected features have on individual insurance customer retention in the United States in 2019, by tech-savviness
- Number of agents, brokers and service employees in the insurance industry in the United States from 1960 to 2017 (in thousands)
- Leading insurance brokers in the United States in 2018, by revenue (in billion U.S. dollars)
- Social media usage by young insurance agents in the United States in 2019
- Belief of young insurance agents in insurance industry being too slow to adopt new technology in the United States in 2019
- Net Promoter Score (NPS) of insurance brokers in the United States from 2014 to 2019
- Largest life insurance companies in the United States in 2017, by assets (in billion U.S. dollars)
- Development in the total number of life insurance companies in the United States from 1950 to 2017
- Number of life insurance employees in the United States from 1960 to 2017 (in thousands)
- Total number of life insurance policies in force in the United States from 2008 to 2017 (in millions)
- Life insurance distribution channels in the United States in 2017
- Distribution of life insurance ownership in the United States in 2019
- Leading life and health insurance companies in the United States in 2017, by direct premiums written (in billion U.S. dollars)
- Market share of leading health insurance companies in the United States in 2017, by direct premiums written
- Share of private sector companies which self-insured at least one health plan in the United States from 2000 to 2017
- Average annual deductibles for employer-sponsored health insurance* in the United States from 2010 to 2018 (in U.S. dollars)
- Number of employees in life, health and medical insurance industry in the United States from 2005 to 2018 (in thousands)
- Leading writers of property/casualty insurance in the United States in 2018, by direct premiums written (in billion U.S. dollars)
- Profit of leading mutual property and casualty insurance companies in the United States in 2018 (in million U.S. dollars)
- Profit of leading stock property and casualty insurance providers in the United States in 2018 (in million U.S. dollars)
- Number of employees in property and casualty insurance industry in the United States from 2005 to 2018 (in thousands)
- Market share of leading homeowner insurance companies in the United States in 2018, by direct premiums written
- Leading writers of homeowners insurance in the United States in 2017, by market share
- Average premiums for homeowners insurance in the United States in 2016, by state (in U.S. dollars)
- Number of homeowner insurance claims paid due to lightning losses in the United States from 2008 to 2018
- Value of net premiums written by homeowner multiple peril insurance industry in the United States from 2007 to 2017 (in trillion U.S. dollars)
- Payments to group life insurance beneficiaries in the United States in 2017, by state (in million U.S. dollars)
- Payments to life insurance beneficiaries in the United States in 2017, by state (in million U.S. dollars)
- Payments to credit life insurance beneficiaries in the United States in 2017, by state (in million U.S. dollars)
- Value of annualized premiums of newly issued insurance policies of major life insurers in Japan in fiscal year 2017 (in billion Japanese yen)
- Value of annualized premiums of insurance policies in force of major life insurers in Japan in fiscal year 2017 (in trillion Japanese yen)
- Major life insurance companies in Japan in fiscal year 2017, by number of newly issued insurance policies (in 1,000s)
- Major life insurance companies in Japan in fiscal year 2017, by number of insurance policies in force (in millions)
- Total number of life insurance policies in Albania in the 1st quarter 2019*, by category
- Total number of life insurance claims paid in Albania in the 1st quarter 2019*, by category
- Total number of accident and sickness insurance policies in Poland from 2012 to 2016 (in 1,000s)
- Annual premiums of life insurance policies in Singapore from 2008 to 2016 (in billion Singaporean dollars)
- Life insurance policies in force in Singapore from 2008 to 2016 (in millions)
- New life insurance policies in force in Singapore from 2008 to 2016 (in thousands)
- Value of new group life insurance policies in Japan in fiscal years 2011 to 2015 (in trillion Japanese yen)
- Value of new group life insurance policies in Japan in fiscal year 2015, by type (in trillion Japanese yen)
- Industry revenue of »life insurance« in Luxembourg from 2011 to 2023 (in billion U.S. Dollars)
- Value of premiums written by life insurance companies in Belgium from 2009 to 2025 (in billion U.S. dollars)
- Share of adults that chose their insurance policy because of the reputation, brand or reliability of the company in the United Kingdom (UK) as of 2015, by family financial status
- Number of merger and acquisition (M&A) deals completed using M&A insurance worldwide 2018, by industry
- First-choice insurance product of Chinese consumers as of January 2019, by type
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