U.S. life insurance: average face value of policies purchased 1997-2017

Average face amount of individual life insurance policies purchased in the United States from 1997 to 2017 (in thousand U.S. dollars)

by Statista Research Department, last edited Jun 12, 2019
U.S. life insurance: average face value of policies purchased 1997-2017 In 2017, the average face amount of individual life insurance policies purchased in the United States was about 163 thousand U.S. dollars.
Life Insurance in the United States

The economic and social purpose of life insurance is directed at handling financial guarantees to individuals and families. It provides a safety net to families in case of an unforeseen death of a bread-winning family member. It covers the financial loss that the surviving family will face. Additionally, it provides financial help in case they outlive other forms of income such as a retirement fund. There are three different forms of life insurance products: whole-life, term life, and annuities. If a life insurance company were to go under, there are state guaranty associations that exist to make sure that will fulfill the benefit claims of policy holders. The face value of life insurance policy purchase since 2000 has slightly fluctuated, but has seen a recent increase since 2016. However, the number of individual life insurance policy purchases has remained somewhat steady since 2009. California, the state with the biggest population and third largest in total area, saw the highest amount of payments to life insurance beneficiaries in 2017.
Show more

Average face amount of individual life insurance policies purchased in the United States from 1997 to 2017 (in thousand U.S. dollars)

Loading statistic...
Value in thousand U.S. dollars
2017163
2015160
2013165
2011162
2009172
2007175
2005157
2003128
2001114
1999120
1997103
Value in thousand U.S. dollars
2017163
2015160
2013165
2011162
2009172
2007175
2005157
2003128
2001114
1999120
1997103
Download Settings Share
Download started
Please be patient - this may take a moment
by Statista Research Department, last edited Jun 12, 2019
In 2017, the average face amount of individual life insurance policies purchased in the United States was about 163 thousand U.S. dollars.
Life Insurance in the United States

The economic and social purpose of life insurance is directed at handling financial guarantees to individuals and families. It provides a safety net to families in case of an unforeseen death of a bread-winning family member. It covers the financial loss that the surviving family will face. Additionally, it provides financial help in case they outlive other forms of income such as a retirement fund. There are three different forms of life insurance products: whole-life, term life, and annuities. If a life insurance company were to go under, there are state guaranty associations that exist to make sure that will fulfill the benefit claims of policy holders. The face value of life insurance policy purchase since 2000 has slightly fluctuated, but has seen a recent increase since 2016. However, the number of individual life insurance policy purchases has remained somewhat steady since 2009. California, the state with the biggest population and third largest in total area, saw the highest amount of payments to life insurance beneficiaries in 2017.
Show more
Statista Accounts: Access All Statistics. Starting from $588 / Year
Basic Account
Get to know the platform

You only have access to basic statistics.

Premium Account
Your perfect start with Statista
  • Instant access to 1m statistics
  • Download in XLS, PDF & PNG format
  • Detailed references

$49 / Month *

Corporate Account
Full access

Corporate solution including all features.

* All products require an annual contract.
   Prices do not include sales tax.
Leading companies trust Statista:
paypalgoogleadobepgsamsungtelekom
Statista has been my savior on several occasions. The site is easy to maneuver and the data is in a format that can go right into a report or presentation.
Marlene Greenfield

Marlene Greenfield
Vice President, Hearst Magazines

Statistics on "Life insurance in the United States"
  • Life insurance market
The most important statistics
  • Key figures
  • Policy purchases
  • Consumer perspective
  • Miscellaneuous
Discover Statista
Need help with using Statista for your research? Tutorials and first steps
Further Content: Statistics, Studies, and Topic Pages
Learn more about how Statista can support your business.
Do you have any questions about our business solutions?

We provide you with detailed information about our Corporate Account.