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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)
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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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.
Show moreLife 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.
- Show sources information
- Show publisher information
- Release date
- October 2018
- Region
- United States
- Survey time period
- 2008 to 2017
- Supplementary notes
- Figures have been rounded.
Source
- Show sources information
- Show publisher information
- Release date
- October 2018
More information
- Region
- United States
- Survey time period
- 2008 to 2017
- Supplementary notes
- Figures have been rounded.
Other statistics on the topic
Insurance industry in the U.S.
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- U.S. life insurance payments to beneficiaries 2017, by state
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- Life insurance in the United States
- Life insurance worldwide
- Life insurance in the Benelux
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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 2017, by revenue (in billion U.S. dollars)
- Leading health insurance companies in the United States in 2017, by direct premiums written (in billion U.S. dollars)
- Leading stock life and health insurance companies in the United States in 2017, by revenue (in billion U.S. dollars)
- Leading mutual life and health insurance companies in the United States in 2017, 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 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 2017, 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
- 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
- Number of employees in life, health and medical insurance industry in the United States from 2005 to 2017 (in thousands)
- Average annual deductibles for employer-sponsored health insurance* in the United States from 2010 to 2018 (in U.S. dollars)
- Consumer perception of trustworthiness of health insurance companies in the United States in 2017, by provider type
- Leading writers of property/casualty insurance in the United States in 2017, by direct premiums written (in billion U.S. dollars)
- Profit of leading mutual property and casualty insurance companies in the United States in 2017 (in million U.S. dollars)
- Profit of leading stock property and casualty insurance providers in the United States in 2017 (in million U.S. dollars)
- Number of employees in property and casualty insurance industry in the United States from 2005 to 2017 (in thousands)
- Market share of leading homeowner insurance companies in the United States in 2017, 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 2006 to 2016
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- Payments to life insurance beneficiaries in the United States in 2017, by state (in million U.S. dollars)
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- Value of annualized premiums of newly issued insurance policies of major life insurers in Japan in fiscal year 2017 (in billion Japanese yen)
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- 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)
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- Value of group life insurance policies in force in Japan in fiscal years 2011 to 2015 (in trillion Japanese yen)
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- Net equity of households in life insurance reserves as percentage of total household financial assets in Slovakia from 1996 to 2017
- Value of new life insurance policies purchase in South Korea from FY 2012 to FY 2017 (in trillion South Korean won)
- Net equity of households in life insurance reserves as percentage of total household financial assets in Poland from 2003 to 2015
- Distribution of joint life annuity purchases in the United Kingdom (UK) in 2013, by value
- Number of new pet insurance policies in South Korea from 2013 to 2016
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